Tech Workforce Reduction Goes On as Zoom Fires 150 but Promises to Hire More

There has been a surge of layoffs in the tech industry and now, Zoom Video Communications is joining in and firing 150 employees. 

The company, which is popularly known for seamless video conference calls, particularly for people who work from home shared that the number of employees they are letting go is only about 2% of their whole workforce. 

According to a spokesperson from Zoom, the company evaluates its teams regularly to guarantee they align with the strategy. As a part of this initiative, roles are being adjusted to incorporate additional capabilities, and the company is actively recruiting in key areas for the future.

Bloom Berg also reported that the layoffs are specific to certain areas within the company, and Zoom intends to persist in recruiting for positions related to artificial intelligence, sales, product development, and various operational roles throughout 2024. 

Around this time last year, Zoom reduced its workforce by approximately 1,300, representing about 15 percent of its total workforce. This affected all departments within the organization. In response, Zoom CEO Eric Yuan announced a 98 percent reduction in the 2023 salary and opted not to receive his FY23 corporate bonus.

In the most recent wave of tech layoffs in 2024, the videoconferencing company is reducing its workforce by a huge number and says this move is part of a restructuring effort that involves redefining certain roles, with an emphasis on future growth areas such as artificial intelligence, sales, and product development. 

More and more companies have fired a fraction of their workforce and some are on the verge. Zoom has said that, although it is currently firing, it would be hiring soon. 

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