Zoom, based in San Jose, California, saw explosive growth during the first year of the pandemic as companies scrambled to shift to remote work, and even families and friends turned to the platform for virtual gatherings.
NEW YORK — The company whose name became synonymous with remote work is joining the growing return-to-office trend.
The new policy, which will be rolled out in August and September, was first reported by the New York Times, which said Zoom CEO Eric Yuan fielded questions from employees unhappy with the new policy during a Zoom meeting last week. Shares of Zoom Video Communications have tumbled hard since peaking early in the pandemic, from $559 apiece in October 2020, to below $70 on Tuesday. Shares have slumped more than 10% to start the month of August. In February, Zoom laid off about 1,300 people, or about 15% of its workforce.
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