Video conferencing platform Zoom, which recently laid off 1300 workers, has now sacked its president Greg Tomb without any cause, as it seeks to navigate the global macroeconomic conditions.
The firm stated in a regulatory filing in the US that Tomb’s contract was abruptly terminated “without cause.”
A company spokesperson was quoted as saying in media reports that Zoom is not looking for any replacement for Tomb.
When Tomb joined the company as president, CEO Eric Yuan, said, “Greg is a highly respected technology industry leader and has deep experience in helping to scale companies at critical junctures.”
Tomb reported directly to Yuan and was thrilled to join the company and help “drive growth.”
Last month, Zoom’s video communication app laid off about 1,300 employees or 15 percent of its workforce.
Yuan said that he was reducing his salary for the coming fiscal year by 98 percent and foregoing his FY23 corporate bonus.
“Members of my executive leadership team will reduce their base salaries by 20 per cent for the coming fiscal year while also forfeiting their FY23 corporate bonuses,” he had announced.
During the pandemic, Zoom usage surged significantly as millions stayed home.
The company’s CEO said during the latest earnings call that the company experienced headwinds in terms of currency impact, online contraction, and deal scrutiny, which continued into Q4.
For the period ending December 31, 2022, its enterprise business grew 24 percent, and total revenue reached $1.118 billion, up 4 percent year over year.