Communications firm Zoom announced plans to lay off more than 1,000 employees globally after a pandemic-fueled growth spurt and subsequent decline, with the chief executive announcing a 98 percent reduction in his salary. “We have made the tough but necessary decision to reduce our team by approximately 15 percent and say goodbye to around 1,300…
Zoom Slashing Workforce by 15 Percent, CEO to Take 98 Percent Salary Cut
Zoom Shares Down 90 Percent From Peak as Pandemic Boom Fades
Shares of Zoom Video Communications Inc. have tumbled about 90 percent from their pandemic peak in October 2020 as the former investor darling struggles to adjust to a post-COVID-19 world. The stock was down nearly 10 percent on Tuesday after the company cut its annual sales forecast and posted its slowest quarterly growth, prompting at…
Russia Fines Apple and Zoom for Alleged Data Storage Violation
MOSCOW—U.S. tech giant Apple and Zoom Video Communications were fined on Tuesday for allegedly refusing to store the data of Russian citizens on Russian territory. Moscow has clashed with Big Tech over content, censorship, data and local representation in a simmering dispute that has erupted into a full-on battle since Russia sent its armed forces…
Zoom Acquires Certain Assets From Liminal for Undisclosed Sum
Zoom Video Communications Inc. recently acquired certain assets from Liminal. The financial terms of the transaction remain undisclosed. Liminal is a startup company that offers event production solutions built primarily on Zoom’s SDK. Two of Liminal’s co-founders, Andy Carluccio and Jonathan Kokotajlo, will join Zoom. Liminal’s solutions, including their ZoomOSC and ZoomISO apps, will help…
Better.com CEO Apologizes for Firing 900 Workers Over Zoom Call Weeks Before Christmas
The CEO of Better.com has said he is “deeply sorry” for firing 900 of his employees just weeks before Christmas via a Zoom call that quickly went viral online. In a letter to his employees, Vishal Garg, the executive of the online mortgage lender, said he “failed to show the appropriate amount of respect and appreciation for the individuals who were affected…
Better.com CEO Fires 900 Employees in Zoom Call Weeks Before Christmas
The CEO of Better.com, an online mortgage lender, fired 900 of his employees in a Zoom call just weeks before Christmas citing a “change in the market.” Video of the Zoom call was shared on social media and shows Vishal Garg, the executive, sitting behind a desk as he prepares to deliver the news to his employees. The Epoch…
Universities Still Zooming in on Chinese Student Market
October 10, 2021
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Asia & PacificAustraliaaustralia universitiesBusiness & EconomyChinese studentsCompanieseducationInternationalOpinionThinking About ChinaUSWorldzoom
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Commentary Recent reports suggest Australian universities are cash-strapped because government-mandated border closures due to the pandemic have contributed to a drop in foreign student numbers. Statistics confirm a marked reduction of students, especially those from China. Although this reduction may be due to the impact of Australia’s COVID-19 restrictions—notably the cancellation of international flights—some Chinese students may…
US Government to Probe Zoom’s $14.7 Billion Five9 Deal for National Security Risks
September 22, 2021
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AcquisitionBusiness & EconomyChinaCompaniesfive9MarketsNational SecurityUSUS NewsUS-China relationszoom
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A U.S. government committee that reviews foreign investment in telecom is probing videoconferencing company Zoom’s $14.7 billion deal for cloud call center company Five9. In an August filing with the Federal Communications Commission, the Justice Department, which chairs the committee, said it would review the deal “to determine whether this application poses a risk to…
Facts Matter (Sept. 21): Leaked Zoom Video Reveals Hospital Officials Discuss Scare Tactics Surrounding Vaccine
Let’s explore the unique approaches that governments, as well as private institutions, are using to get people vaccinated. For instance, in North Carolina, a leaked video of a Zoom conference call among hospital staff has just surfaced. And in that video, it shows a doctor, the hospital’s director of marketing, as well as the hospital…
NTD Business Full Broadcast (Sept. 21)
We look at why Shell is selling all of its assets in the Permian Basin, located in the southwestern part of the United States. The buyer has agreed to pay nearly $10 billion in cash. Google spending big on physical office space in New York city, even as many companies embrace a more flexible work…
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