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Even Zoom Is Calling Employees Back to the Office

 1 year ago
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Even Zoom Is Calling Employees Back to the Office

Brody Ford
Mon, August 7, 2023, 9:55 PM GMT+9·2 min read
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Even Zoom Is Calling Employees Back to the Office

(Bloomberg) -- Zoom Video Communications Inc., a one-time darling of the work-from-home era, is calling workers back to the office.

Most Read from Bloomberg

Employees who live near a Zoom location must be on-site two days a week, a company spokesperson said. A “hybrid approach” is most effective for Zoom, she said, because it will be in “a better position to use our own technologies, continue to innovate and support our global customers.”

The company’s eponymous video-conferencing software was a breakout hit of the pandemic as entire industries were forced to communicate virtually. Since then, companies as varied as Amazon.com Inc., Chipotle Mexican Grill Inc. and BlackRock Inc. have increased the amount of time employees must spend on site.

Still, many offices remain lightly used, and there are signs that some roles may remain remote. Offices in the Northeast were only at peak capacity 24% of the time in the first half of the year, according to data from Basking.io, a workplace-occupancy analytics company. Listings for remote jobs have also trended up in many cities.

Zoom itself has struggled to keep growing in a post-pandemic world. While its share price quintupled from March to October 2020, the stock has since retreated to pre-pandemic levels. In an effort to resuscitate growth, Zoom is developing a wider suite of software tools for big businesses, including in-office collaboration products. It has invested in startup Anthropic to include artificial intelligence in its software for managing and automating customer service requests.

Insider earlier reported Zoom’s new office policy.

While many chief executives want employees back five days a week, “I think the hybrid work is going to stay,” Chief Executive Officer Eric Yuan said during a May earnings call. “I think hybrid work does bring another kind of huge opportunity to us.”

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    8h ago
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    The Wall Street Journal

    How Retirement Plans Should Protect Employees From Themselves

    The design of 401(k)s and other retirement savings plans too often lead employees to make financially harmful mistakes. It doesn’t have to be that way.

    1d ago
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    Investor's Business Daily

    Tesla Stock Breaks Key Support As CFO Zachary Kirkhorn Steps Down

    Tesla stock fell below key support Monday on news Chief Financial Officer Zachary Kirkhorn is stepping down. The EV giant announced in federal filings that Vaibhav Taneja took over from Kirkhorn on Aug. 4. Taneja will now serve as CFO as well as his current role of chief accounting officer.

    4h ago
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    Investor's Business Daily

    Netflix Stock Today: This Butterfly Setup In Options Trading Could Catch $1,930 In Profits

    Netflix has dropped in recent weeks and is holding just above the 50-day moving average. The strategy is called a broken wing butterfly. Netflix stock currently holds a respectable Composite Rating of 94 on a scale of 1 to 99, according to IBD Stock Checkup.

    6h ago
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    Bloomberg

    Buffett’s Berkshire Rallies to Record High on Earnings Beat

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    3h ago
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    Investopedia

    Surging U.S. Corporate Bankruptcies Already Surpass Total for All 2022

    Surging U.S. corporate bankruptcies surpass the total for all of 2022 as filings reach pace on par with pandemic, global financial crisis years.

    13h ago
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    Investor's Business Daily

    Lucid Earnings Miss But Luxury EV Startup Affirms Key Goal After Joining Price War

    Lucid revenue and earnings missed, but cash balance and liquidity were positives. Lucid maintained its production target.

    3h ago
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    Reuters

    Tesla names insider Taneja CFO as Kirkhorn steps down

    (Reuters) -Tesla finance chief Zachary Kirkhorn has stepped down, surprising analysts who considered the 13-year veteran as a possible successor to CEO Elon Musk. Shares of the world's most valuable car company were down 1% in trading after the bell. Accounting head Vaibhav Taneja, who joined Tesla through the $2.6 billion deal for Solarcity in 2016, will replace Kirkhorn.

    10h ago
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    Barrons.com

    BioNTech Stock Was a Covid Darling. Now It’s Paying the Price.

    Sales drop by more than expected in the second quarter, but BioNTech says its new 'variant-adapted Covid-19 vaccine' is still on track.

    3h ago
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    Zacks

    What's in Store for Clearway Energy (CWEN) in Q2 Earnings?

    Clearway Energy's (CWEN) second-quarter 2023 revenues are expected to have been negatively impacted by lower production from its wind assets.

    12h ago
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    Investor's Business Daily

    Cybersecurity Stocks To Watch Amid Shift To AI, Cloud

    Cybersecurity stocks have underperformed in 2023. But cloud security companies may be better positioned as corporate budgets tighten.

    10h ago
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    Zacks

    Will Top-line Expansion Boost Akamai (AKAM) Q2 Earnings?

    Akamai (AKAM) is expected to report higher revenues year over year in the second quarter of 2023, driven by positive demand trends in the compute and security verticals.

    8h ago
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    Zacks

    Viatris (VTRS) Q2 Earnings Beat, Generics Business Grows

    Viatris (VTRS) second-quarter earnings and sales beat estimates. The company reiterates its annual guidance.

    7h ago
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    Yahoo Finance

    The five biggest things that confuse Americans about retirement

    Many have no idea how much they should save or how to invest whatever money they sock away.

    1d ago
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    Business Insider

    JPMorgan, Bank of America and 4 other Wall Street titans are set to pay $8.9 billion after this spring's banking fiasco

    JPMorgan tops the list as the biggest contributor to the FDIC's insurance deposit fund, expected to pay $3 billion, Bloomberg reports.

    4h ago
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    Business Insider

    US stocks rise as investors turn attention to upcoming inflation data

    For the Federal Reserve to cut interest rates, inflation would have to be decisively on track to near the central bank's long-term 2% target.

    2h ago
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    Investopedia

    Rates Drop for Almost Every Mortgage Type

    Mortgage rates showed a notable drop across almost every loan type, with the 30-year average reversing course after rising last week to its highest point in almost four weeks.

    9h ago
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    Zacks

    The Zacks Analyst Blog Highlights Verizon Communications, ICICI Bank, MercadoLibre, O'Reilly Automotive and Chipotle Mexican Grill

    Verizon Communications, ICICI Bank, MercadoLibre, O'Reilly Automotive and Chipotle Mexican Grill are included in this Analyst Blog.

    15h ago
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    Investor's Business Daily

    Datadog Stock Sees RS Rating Jump To 93, Continues To Be One To Watch

    Datadog had its Relative Strength (RS) Rating upgraded from 90 to 93 Monday, before the market opened for trading. Decades of market research reveals that the stocks that go on to make the biggest gains tend to have an RS Rating of at least 80 at the beginning of a new climb. Datadog may not be near an ideal buy point right now, considering it fell back after clearing a recent cup with handle pattern.

    9h ago
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    Investor's Business Daily

    Is AMC Stock A Buy Or Sell Now? Here's What Fundamentals, Chart Action, Fund Ownership Metrics Say

    At one point, its year-to-date gain reached 44%, vs. a 7.7% advance by the S&P 500 since its Jan. 1 start at 3839.50.

    8h ago
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    FX Empire

    GBP/USD Forecast – British Pound Continues to Hang Around the 50-Day EMA

    The British pound has done very little during the trading session on Monday, as we continue to hang around the crucial 50 day EMA. With that being the case, the market is likely to continue to see a lot of back and forth in this general vicinity.

    11h ago

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