Anjali Sharma
GG News Bureau
NEW YORK, 4th Feb. Zoom on Saturday said the layoffs are not company-wide and it will continue to hire for roles in artificial intelligence, sales, product and across operations in 2024.
Video communication platform Zoom has laid off 150 employees, or less than 2 per cent of the company’s workforce.
“We regularly evaluate our teams to ensure alignment with our strategy,” a Zoom spokesperson told news media in a statement.
“As part of this effort, we are rescoping roles to add capabilities and continue to hire in critical areas for the future,” the spokesperson added.
Zoom slashed 1,300 jobs, or about 15 per cent of its workforce last year.
In addition to Zoom, cloud software vendor Okta also announced to lay off about 400 employees, or about 7 per cent of its workforce.
Okta CEO Todd McKinnon said that the “reality is that costs are still too high”.
According to reports, Okta shares rose 3.6 per cent in premarket trading on the news.
McKinnon said the firm needed to be more “thoughtful” about where it was investing to achieve “long-term success.”
CEO stated “In order to grow profitably, we need to run the business with greater efficiency. While we’ve taken steps in the right direction, the reality is that costs are still too high. We need to be mindful of our overall spend so we can continue to invest in the areas, products, and routes to market with the most opportunity,”.
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