United States: Zoom, a communications technology company that became popular for its remote job opportunities during COVID lockdowns, has asked its employees to travel to the office at least twice a week.
This is part of the company’s “structured hybrid approach,” which affects its 8,000 employees at 12 offices worldwide, including in the UK, where it has about 200 staff and offices in central London. The employees who live a commutable distance within 50 miles of the office will need to follow the new rule.
Many companies have lifted the work-from-home mandate rules after pandemic restrictions, but Zoom hasn’t moved towards those decisions.
Its share price surged from $89 before the pandemic peaked at $559 in October 2020 due to COVID lockdowns, which kept numerous workers at home. However, the shares have dropped to $68 as more people return to offices and competitors grow.
In February 2023, Zoom announced it was cutting about 1,300 jobs as demand for its video-conferencing services decreased with the waning of the pandemic, as per the statement.
“We believe that a structured hybrid approach, meaning a set number of days employees that live near an office need to be on-site, is most effective for Zoom. As a company, we are in a better position to use our own technologies, continue to innovate, and support our global customers. We’ll continue to leverage the entire Zoom platform to keep our employees and dispersed teams connected and working efficiently,” a spokesperson said.
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