Zoom to cut 2% of staff: reports

Zoom Video Communications Inc.
ZM,
+0.26%
said Thursday it will reduce its workforce about 2%, according to reports in the Wall Street Journal and Bloomberg. The job cuts will be division by division, a person familiar with the matter said Thursday. A company spokesperson said the company routinely evaluates its teams “to ensure alignment with our strategy. As part of this effort, we are rescoping roles to add capabilities and continue to hire in critical areas for the future” such as artificial intelligence. Last year, Zoom announced it would cut about 1,300 employees, or roughly 15% of its staff.