Signaling the end of the work-from-home revolution, Zoom is asking all of its employees to return to the office for the first time since the COVID-19 pandemic began, New York Post reported. Notably, Zoom Video Communications was at the forefront of the remote working revolution during the coronavirus pandemic.
In a recent memo to employees, CEO Eric Yuan said that it was time for the company to “refocus on the in-person experience.”
''We believe that the best way to build Zoom is to have our people together. We need to be able to collaborate and innovate face-to-face,'' Mr Yuan said.
The company has requested all employees within 50 miles of a company office to return for in-person work at least two days a week on a hybrid schedule.
''We believe that a structured hybrid approach – meaning employees that live near an office need to be onsite two days a week to interact with their teams – 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,'' a spokesperson told Business Insider in a statement.
As the pandemic struck, Zoom became the go-to video conferencing service for millions of employees and students globally. The company's shares skyrocketed in 2020, however, towards the end of 2021, Zoom's stock took a nose dive. The company has lost at least $100 billion in market value since that point as employees around the globe return to the office, Fox News reported.
In March this year, Zoom fired its President Greg Tomb, after laying off 1,300 employees or 15 per cent of its workforce in February.
The company, which employs more than 8,400 people worldwide, has two U.S. offices in San Jose, California, and Denver, Colorado, as well as several international sites.
