Following a number of other IT companies that recently made layoffs, the US-based marketing technology company ZoomInfo said that it will decrease its global personnel by about 3%. In a statement with the US Securities and Exchange Commission (SEC), ZoomInfo said that it "notified employees of a plan to flatten the organizational structure, speed decision making, and enable investment in key opportunities for long-term growth while driving continued profitability."
"The Company estimates that it will incur restructuring charges of approximately $6 million in connection with this plan, which will primarily be recognized in the second quarter," it said. The company stated in its most recent annual report filing that it had 3,540 employees as of December 31, 2022, according to Seeking Alpha. The company also said that it will provide a health and education fund, stock award vesting, and an average of 10 weeks' worth of severance pay to each impacted employee.
ZoomInfo stated, "As the Company indicated on its most recent financial results conference call, we plan to continue hiring within sales, engineering, and customer success." This is so that the business may employ its generative AI skills even more. In the midst of this, the job search engine ZipRecruiter announced that it will lay off around 270 workers globally, or nearly 20% of its whole workforce. Following the reduction of another discretionary spending, the company claimed in a filing with the US SEC that the action was taken "with a view towards driving long-term efficiency" in response to the current market conditions.
© Copyright 2023. All Rights Reserved Powered by Vygr Media.
