Zoom, the video communications company that experienced exponential growth during the pandemic, is marking the end of an era by asking its employees to return to the office.
In response to the changing work landscape, Zoom has adopted a structured hybrid approach, requiring employees residing within 50 miles of a company office to come in for at least two days per week.
Zoom management says the move aims to facilitate better team interaction and foster innovation within the organization.
Pandemic stock
During the pandemic, Zoom’s popularity soared as it became the go-to platform for remote work communication, leading to a six-fold increase in the company’s shares in 2020.
However, as the world gradually adapted to the new normal, with employees returning to their physical offices, the reliance on video conferencing declined, causing Zoom’s stock to plummet, resulting in a significant loss of market value.
In January 2022, only a mere 2% of Zoom’s employees worked on-site.
Nonetheless, the company continues to maintain offices in San Jose, California, and Denver, Colorado, along with several international sites, employing over 8,400 people globally.
Despite the shift back to the office, Zoom is committed to leveraging its platform to keep employees and teams connected and efficient.
