How would you prefer it was done?
Yes, it will have to be a zoom call, but the CEO does not make it about themselves, and sticks to a script that's been rehearsed and checked with multiple humans to show empathy and humanity.
You can tell the survivors that some of the people who were cut were poor fits for the company and any details you want, but sometimes it's the details that show low emotional intelligence rather than the fact of the call itself.
Again. Gross.