Zoom Cuts 150 Jobs in Restructuring Move

According to CNBC, Zoom, the specialized company in online meetings and calls services, has announced the dismissal of 150 employees.

The employees who were laid off make up around 2% of the company’s workforce, and their layoffs came as a response to investors’ pressures to reduce expenses. This came after other companies, such as Microsoft, Google, YouTube, Salesforce, PayPal, and others, began layoffs earlier this year.

According to the spokesperson for Zoom, the company carries out continuous evaluation processes for its teams to ensure “the alignment of employees’ level with the company’s strategies and standards,” as mentioned in statements given to CNBC.

The spokesperson added that the company is undergoing a continuous restructuring process with the aim of localizing employees in suitable positions “to ensure a high level of quality.”

Additionally, they will be hiring new talents in vital fields of great significance such as artificial intelligence, sales, and others, according to their statement.

During the early stages of the COVID-19 pandemic, the popularity of the Zoom platform increased due to the implementation of curfews and regulations on leaving homes, leading most educational institutions and companies to conduct their work online.

At that time, Zoom became the leading global visual communication platform. However, as the pandemic subsided, Zoom’s stocks declined again after reaching their peak in October 2020.

The company had laid off approximately 1,300 employees at the beginning of last year, which accounted for 15% of its total workforce, according to the former CEO, Eric Yuan.

Estimates indicate that last January witnessed the layoff of over 30,000 employees in more than a hundred technology companies.