Zoom to Lay Off 15% of Staff, CEO Slashes Salary
Finally a CEO that takes real accountability for his actions. “I am accountable for these mistakes.” Mr. Yuan said he is reducing his salary for the coming fiscal year by 98% and foregoing his fiscal 2023 corporate bonus. Members of his executive leadership team will also forfeit their bonuses and reduce their base salaries by 20% for the coming fiscal year. https://www.wsj.com/articles/zoom-to-lay-off-15-of-staff-ceo-slashes-salary-11675794502?mod=hp_lead_pos3
The Wall Street Journal
He's the original founder so I'm sure he already has more money than he can ever spend, but this is definitely the best gesture of leadership of the recent layoffs. Cutting exec salaries is the right thing to do.
Don’t let this distract you from the fact that Skype blew a 17 year headstart. Lol
Good chance Teams took some domain knowledge from Skype. Maybe built by the same team?
My comment was more of a joke, given that Zoom only really rose to prominence during 2019-20. But absolutely I’m sure there’s some knowledge share going on
so now he erns 6k a year, he can apply for food stamps and obama care :-)
Sundar, take notice
Did he take a cut to his equity component of compensation? Otherwise doesn't mean much.
His salary as a ceo seems very reasonable compared to other tech ceos