Amid a decrease in the COVID-19 pandemic Zoom Video Communications Inc announced a reduction in staff by 1300 workers. Dismissal of 15% of employees tothe ompaniya manufacturer of video conferencing software is driven by declining demand for its services.

This was reported by Reuters.

Chief Executive Officer Eric Yuan has promised to offset the $68 million in costs associated with the cut. He is also going to cut his salary by almost half next fiscal year and give up corporate bonus payments this year.

The salary cut will also affect the entire executive management of the company.

Reduced employees will be paid a salary for 16 weeks. They will also have health insurance and annual premiums, Yuan promised.

Recall that techno giants continue to reduce staff. For example, Alphabet Corporation, Google’s parent company, said it would eliminate about 12,000 jobs.