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He served only nine months on the job.
March 3, 2023
Zoom’s Greg Tomb
Tomb became Zoom’s president in June, only serving nine months on the job. He will get severance benefits in accordance with his contract.
As part of his employment, Tomb received a $45 million stock grant that would be vested over four years. His base salary was $400,000 with a target annual bonus of 8%, according to a June filing.
Before joining Zoom, Tomb served as vice president of Workspace, geo and security sales at Google Cloud. Prior to that, Tomb worked for SAP, serving in several executive roles. He also held leadership positions at both Accenture Consulting and Comergent Technologies.
Apparently, execs aren’t unscathed by job cuts in a season of tech layoffs.
Despite tripling its headcount in two years of the pandemic, Zoom still cut its staff. In February, the company reduced its workforce by 1,300, or 15% of its employees. CEO Eric Yuan said Zoom needed to adapt to the “uncertainty of the global economy” and “its effect on our customers.”
Yuan even lowered his salary for the coming fiscal year by 98%.
Zoom joins the more than 20 companies doing business in the channel that have cut workers since the start of the year.
Zoom’s Eric Yuan
“We also made mistakes. We didn’t take as much time as we should have to thoroughly analyze our teams or assess if we were growing sustainably, toward the highest priorities,” Yuan said. As the world transitions to life post-pandemic, we are seeing that people and businesses continue to rely on Zoom.”
He added: “[It’s important to] look inward to reset ourselves so we can weather the economic environment, deliver for our customers and achieve Zoom’s long-term vision.”
Read more about:Agents
Claudia Adrien is a reporter for Channel Futures where she covers breaking news. Prior to Informa, she wrote about biosecurity and infectious disease for a national publication. She holds a degree in journalism from the University of Florida and resides in Tampa.
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