Zoom laid off 150 employees, Okta laid off 400 employees, Delhi News in Hindi

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New Delhi. Video communications platform Zoom is laying off about 150 employees, or less than two percent of the company’s workforce.

Zoom said that despite the layoffs, the company will continue to hire in artificial intelligence, sales, product and other sectors in 2024.

“We regularly evaluate our teams to ensure alignment with our strategy,” a Zoom spokesperson told CNBC in a statement.

“As part of this effort, we are reformulating roles to add capabilities and continuing to hire in areas that are important for the future,” the spokesperson said.

In February last year, Zoom laid off about 1,300 employees, or about 15 percent of its workforce.

In addition to Zoom, cloud software vendor Okta has also announced it is laying off about 400 employees, or about 7 percent of its workforce.

Okta CEO Todd McKinnon said the reality is that costs are still too high.

According to the report, Okta shares rose by about 3.6 percent in premarket trading on this news.

McKinnon said the company needed to be more “thoughtful” about where to invest to achieve “long-term success.”

To achieve profits we need to run the business with greater efficiency, the CEO said. Although we have taken steps in the right direction, the reality is that the costs are still very high. We need to remain mindful of our overall spend, so that we can continue to invest in the areas, products and markets with the most opportunity.

–IANS

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