Zoom cuts workforce by 15% as pandemic-driven demand wanes

CEO Eric Yuan says We worked tirelessly ... but we also made mistakes' as he takes 98% pay cut for coming year

Zoom is cutting about 1,300 jobs as demand for the company's video-conferencing services slows with the waning of the pandemic.

While announcing the layoffs on Tuesday, which will hit nearly 15% of its workforce, the chief executive officer, Eric Yuan, said he would take a pay cut of 98% for the coming fiscal year and forgo his bonus.