Zoom Communications announced that it will be cutting off 150 staff members, or 2% of its workforce, in an effort to "ensure alignment with our strategy."
According to the company, the layoffs were part of its regular team evaluation in "rescoping roles" to critical areas in the future. The layoff was first reported by Bloomberg.
The company laid off 1,300 workers across all divisions last year following CEO Eric Yuan's warning for the firm to brace for the "uncertainty of the global economy."
Zoom closed on Thursday with a stock increase of 0.37% at $64.85 per share.
Zoom assured that the layoffs would not happen across the company and even promised to continue the hiring process for roles in AI, sales, and product units.
The announcement followed soon after Zoom's cloud software vendor Okta cut off 400 employees because the "costs are still too high."
Silicon Valley Records 30,000 Layoffs in 2024
Zoom is the latest addition to the growing number of companies that announced layoffs this year.
Tech layoff watcher layoffs.fyi has recorded over 100 tech firms cutting off employees in just a month since the start of 2024, affecting more than 300,000 roles in the industry.
It is worth noting that companies like Amazon and Google, which announced several rounds of layoffs last month, have not disclosed the complete number of roles eliminated in their companies.
Earlier announcements detailed the cut-offs were at hundreds each.
Tech Companies Deny Layoffs Caused by AI
Despite the vague reasons for the layoffs, usually due to market changes, many companies have denied that the increase in AI integration has affected their decisions.
Last year has recorded one of the slowest job growth in the tech industry following an employment boom since the pandemic as AI technology became more common in corporations.
Sales positions are among the most affected by the recent layoffs, one of the positions that have started being relegated to chatbots and AI assistants.
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