Zoom said in a statement that despite the layoffs, the company will continue to hire in artificial intelligence, sales, product and other sectors in 2024.
Zoom layoffs: Video communications platform Zoom has announced layoffs of approximately 150 employees, or less than two percent of the company’s workforce. Zoom said in a statement that despite the layoffs, the company will continue to hire in artificial intelligence, sales, product and other sectors in 2024.
1,300 employees will be laid off
“We regularly evaluate our teams to ensure alignment with our strategy,” a Zoom spokesperson told CNBC in a statement. As part of this effort, the spokesperson said, “we are looking to add capabilities and build the future.” To continue hiring in key areas, Zoom has laid off about 1,300 employees, or about 15 percent of its workforce, in February last year.
Okta laid off nearly 400 employees
Apart from Zoom, cloud software vendor Okta has also announced the layoff of about 400 employees, or about 7 percent of its workforce. Okta CEO Todd McKinnon said that “the reality is that the costs are still very high.” Okta’s shares rose about 3.6 percent in premarket trading on the news, according to the report.
Okta shares increased by about 3.6 percent
McKinnon said the company needs to be more “thoughtful” about where to invest to achieve success. The CEO said, “To achieve profits we need to run the business more efficiently. Although we have taken steps in the right direction, the reality is that the costs are still very high. “We need to be mindful of our overall spend, so we can continue to invest in the areas, products and markets with the most opportunity.”
