Video conferencing platform Zoom has fired its CEO, Greg Tomb, without cause, after he laid off 15% of the company's workforce last month.

In regulatory proceedings in the United States, Zoom abruptly terminated Tomb's contract "without any cause", writes the Economic Times.

The app, which gained notoriety during the Covid-induced lockdowns, competes with rivals such as Microsoft Corp's Teams, Cisco's Webex and Salesforce's Slack.

Zoom is forecasting annual revenues below estimates, amid a slowdown in demand for its video conferencing services in the face of economic uncertainty.

Revenue for the quarter ended January 31 was 1.12 billion dollars, compared to analysts' average expectation of 1.10 billion dollars.

According to a Reuters report, quoted by Economic Times, the company expects revenues of between 4.44 billion and 4.46 billion dollars for fiscal year 2024, compared to analysts' average estimate of 4.6 billion dollars.

A number of American companies have laid off thousands of employees this year to cope with falling demand amid high inflation and rising interest rates.