The company behind the Zoom video conferencing platform, which became a household name during the COVID-19 pandemic, announced on Tuesday it is laying off about 15 percent of its staff, reported the AFP news agency.

Zoom Video Communications chief executive Eric Yuan is also taking a 98 percent cut in salary this year and forgoing his executive bonus, he said in a blog post about the job cuts.

He added that members of his executive leadership team are taking a 20 percent salary reduction and also forfeiting bonuses this year.

While people and businesses continue to rely on Zoom "as the world transitions to life post-pandemic," the Silicon Valley-based firm is seeing customers cut back on spending, Yuan said in the post.

Zoom has made the "tough but necessary" decision to lay off about 1,300 people, or roughly 15 percent of its staff, Yuan continued.

"Our trajectory was forever changed during the pandemic when the world faced one of its toughest challenges, and I am proud of the way we mobilized as a company to keep people connected," he wrote.

With the cuts, Zoom joins a growing list of companies that have slashed jobs.

Last month, Google's parent company, Alphabet, announced it would cut about 12,000 jobs globally, citing a changing economic reality.

Days earlier, Microsoft officially announced that it would be laying off about 10,000 workers around the world that make up about five percent of its workforce.

Previously, Facebook owner Meta, Amazon and Twitter all announced layoffs. Kan 11 News reported this week that the Amazon layoffs have already affected its employees in Israel.