Now these two top IT companies have laid off so many employees, know the reason – News India Live

The phase of layoffs among companies is not showing any signs of stopping. One after another companies are laying off their employees. Now video communication platform Zoom has shown the way out to about 150 employees. Even before this, in February last year, Zoom had fired about 1,300 of its employees i.e. about 15 percent of its workforce.

Plan to make appointments too

Zoom said that despite the layoffs, the company will continue to hire in artificial intelligence, sales, manufacturing and other areas through 2024. “We regularly evaluate our teams to ensure alignment with our strategy,” a Zoom spokesperson said in a statement. As part of this effort, we are modifying the role to add capabilities and continue hiring in areas that are important for the future, the spokesperson said.

Okta also laid off employees

In addition to Zoom, cloud software vendor Okta also announced it was laying off about 400 employees, or about 7 percent of its workforce. “The reality is that the costs are still very high,” said Todd McKinnon, CEO of Okta. According to the report, Octa shares rose by about 3.6 percent in premarket trading on this news. McKinnon said the company needs to be more “thoughtful” about where to invest to achieve “long-term success.”

layoffs have begun

The CEO said that to achieve profitability 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 keep our overall costs in mind, so we can continue to invest in the sectors, products and markets with the greatest opportunities.”

Source link

Leave a comment