ZoomInfo announces global workforce reduction of 3%: Report
During the recent filing of its annual report, ZoomInfo disclosed that as of December 31, 2022, the company had a total of 3,540 employees.
PremiumThe trend of layoffs continues as ZoomInfo, a US-based marketing technology company, announces its intention to reduce its global workforce by approximately 3%.
According to a report from IANS, the company stated in a filing with the US Securities and Exchange Commission (SEC) that it has informed employees about plans to streamline the organizational structure, expedite decision-making, and allocate resources to strategic growth opportunities while maintaining profitability.
This move aligns with the actions taken by other tech giants such as Google, Microsoft, and Amazon.
The Company estimates that it will incur restructuring charges of approximately $6 million in connection with this plan, which will primarily be recognised in the second quarter," it added.
According to IANS, citing Seeking Alpha, during the recent filing of its annual report, ZoomInfo disclosed that as of December 31, 2022, the company had a total of 3,540 employees.
The employees of the company, impacted with this layoff will be paid an average of 10 weeks of severance pay, equity award vesting and a health care and education fund, Zoominfo noted.
"As the Company indicated on its most recent financial results conference call, we plan to continue to hire within sales, engineering, and customer success and make investments to further leverage the Company's generative AI capabilities," ZoomInfo said.
ZipRecruiter, a job search engine, has recently revealed its decision to lay off around 270 employees globally, accounting for approximately 20% of its total workforce.
As per a previous report from IANS, approximately 200,000 technology employees, including those from large corporations to startups, were terminated worldwide by May 21, 2023. This action affected 695 companies, leading to job losses in the tech sector.
During January of this year, nearly 100,000 tech employees experienced job losses on a global scale, with prominent companies like Amazon, Microsoft, Google, Salesforce, and others being the primary contributors to the layoffs.
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