Close Menu
    Facebook X (Twitter) Instagram
    • Our Story
    • Partner with us
    • Reach Us
    • Career
    Subscribe Newsletter
    HR KathaHR Katha
    • Exclusive
      • Exclusive Features
      • Research
      • Point Of View
      • Case In Point
      • Dialogue
      • Movement
      • Profile
      • Beyond Work
      • Rising Star
      • By Invitation
    • News
      • Global HR News
      • Compensation & Benefits
      • Diversity
      • Events
      • Gen Y
      • Hiring & Firing
      • HR & Labour Laws
      • Learning & Development
      • Merger & Acquisition
      • Performance Management & Productivity
      • Talent Management
      • Tools & Technology
      • Work-Life Balance
    • Special
      • Cover Story
      • Editorial
      • HR Forecast 2024
      • HR Forecast 2023
      • HR Forecast 2022
      • HR Forecast 2021
      • HR Forecast 2020
      • HR Forecast 2019
      • New Age Learning
      • Coaching and Training
      • Learn-Engage-Transform
    • Magazine
    • Reports
      • Whitepaper
        • HR Forecast 2024 e-mag
        • Future-proofing Manufacturing Through Digital Transformation
        • Employee Healthcare & Wellness Benefits: A Guide for Indian MSMEs
        • Build a Future Ready Organisation For The Road Ahead
        • Employee Experience Strategy
        • HRKatha 2019 Forecast
        • Decoding and Driving Employee Engagement
        • One Platform, Infinite Possibilities
      • Survey Reports
        • Happiness at Work
        • Upskilling for Jobs of the Future
        • The Labour Code 2020
    • Conferences
      • HRKatha Futurecast
      • Automation.NXT
      • The Great HR Debate
    • HR Jobs
    WhatsApp LinkedIn X (Twitter) Facebook Instagram
    HR KathaHR Katha
    Home»News»ZoomInfo to cut 3% global workforce
    News

    ZoomInfo to cut 3% global workforce

    HRK News BureauBy HRK News BureauJune 6, 2023Updated:June 6, 20232 Mins Read6000 Views
    Share LinkedIn Twitter Facebook
    Share
    LinkedIn Twitter Facebook

    US-based marketing technology company, ZoomInfo has announced plans to trim its workforce by 3 per cent. The decision comes as a part of company’s efforts to streamline its structure, speed up the decision-making process, and allocate resources towards strategic growth prospects, all the while ensuring profitability.

    The company informed all the employees about the decision through a filing with the US Securities and Exchange Commission (SEC). The filing mentions that the company expects to face restructuring expenses of around $6 million related to this initiative, with the majority of costs being recognised in the second quarter.

    However, the company has also announced support to all the employees in this transitioning period. All the laid off employees will receive a 10-month severance pay package along with additional benefits like equity award vesting, healthcare, and education funds.

    The company also released a statement mentioning the change in its upcoming hiring and expansion plans. Citing its latest financial results conference call, it intends to persist in recruiting employees for sales, engineering, and customer success roles. Additionally, the company also aims to invest in order to enhance its generative AI capabilities.

    As of December 31, 2022, the company had a total workforce of 3,540 employees.

    According to several media reports, the tech sector has witnessed 200,000 tech employees getting laid off from not only the startups, but large corporations as well. As per May 31, 2023, 695 companies stand affected by this laid off figure.

    Share. LinkedIn Twitter Facebook
    HRK News Bureau

    Leave A Reply Cancel Reply

    five × three =

    Related Posts

    Vizhinjam Port expansion to double workforce by 2028

    May 12, 2025

    SAP revises diversity targets; shifts focus to employee well-being

    May 12, 2025

    Swedish work perks leave Indian netizens dreaming of better office life

    May 12, 2025

    Panasonic to cut 10,000 jobs in major global restructuring effort

    May 12, 2025
    EDITOR'S PICKS

    The invisible wall: How tariffs are reshaping Indian tech’s talent strategy

    May 12, 2025

    How Accor is cultivating homegrown leadership in India

    May 9, 2025

    Why freelancers should embrace slow periods

    May 8, 2025

    Why ‘emotional onboarding’ is key to sustaining new hire enthusiasm

    May 7, 2025
    Latest Post

    Bhavana Khera is chief marketing officer, Genefied

    Movement May 12, 2025

    Genefied, an IT services and consulting company, has appointed Bhavana Khera as chief marketing officer…

    Vizhinjam Port expansion to double workforce by 2028

    News May 12, 2025

    Vizhinjam International Seaport, Kerala, is poised for major growth, with plans to double its workforce…

    SAP revises diversity targets; shifts focus to employee well-being

    News May 12, 2025

    SAP is undergoing a major shift in its diversity and inclusion strategy. The global software…

    Swedish work perks leave Indian netizens dreaming of better office life

    News May 12, 2025

    An Indian software developer based in Sweden has sparked widespread attention online after sharing a…

    Asia's No.1 HR Platform

    Facebook X (Twitter) Instagram LinkedIn WhatsApp Bluesky
    • Our Story
    • Partner with us
    • Career
    • Reach Us
    • Exclusive Features
    • Cover Story
    • Editorial
    • Dive into the Future of Work: Download HRForecast 2024 Now!
    © 2025 HRKatha.com
    • Disclaimer
    • Refunds & Cancellation Policy
    • Terms of Service

    Type above and press Enter to search. Press Esc to cancel.