Zoom, the video communications company, is assessing real estate opportunities in Ireland after it instituted a return-to-office policy for its employees. Last week Zoom, whose services soared in usage during Covid-19 lockdowns, told staff that they would be expected to report to physical offices at least two days a week.
During the pandemic Zoom began hiring in Ireland and is thought to have 20 staff here currently. The company does not have an office space in the country but earlier this year it acquired Cork-based employee communications software company Workvivo, with the transaction expected to close in early 2024.
A spokesperson for Zoom said that Workvivo continues to operate as an “independent business unit” but Workvivo was being factored into discussions about Zoom’s Irish operations. Workvivo had 140 employees at the time of the deal being announced.
“We are currently evaluating our real estate and workplace strategy in Ireland, looking at the Workvivo spaces in Cork and Dublin. Our goal is really to get the best out of the workspaces for Workvivo staff and Zoomies, bringing them closer together,” she said.
The great Guinness shortage has lessons for Diageo
Ireland has won the corporation tax game for now, but will that last?
Corkman leading €11bn development of Battersea Power Station in London: ‘We’ve created a place to live, work and play’
Elf doors, carriage rides and boat cruises: Christmas in Ireland’s five-star hotels
“Zoomies” is the term the company uses for its employees.
“Prior to Workvivo’s acquisition we did not have an office in Ireland, hence Zoom employees have been working remotely,” she said.
She said that Irish staff, who cover functions like sales and customer support, will continue to work remotely until a decision has been made on locations. “Most likely that will be in places where we already have the Workvivo presence.”
The company recently opened a new office in London as it begins this new phase in its policy for employees. It also plans to use flexible office service providers for employees to meet and work together.
Zoom has followed the trend of other major US tech companies that have dialled back their remote work policies and ordered staff to attend offices, at least for a few days a week. Meta, Amazon and Salesforce have all issued similar notices to staff.
Zoom was one of the biggest beneficiaries of Covid-19 lockdowns when many industries were forced into remote working. The company once boasted a market cap over $100 billion (€91.4bn) at the height of Covid restrictions.
But it has not emerged unscathed from the tech downturn in the past year that has seen several high profile tech firms shedding thousands of employees. In February Zoom announced that it would be laying off 1,300 people, about 15 per cent of its workforce.
Zoom is due to release its latest quarterly earnings report next week. The company, which currently has a market cap of just under $20 billion, reported revenue of $1.1 billion for the three months ended April of this year with profits of $15.4 million, down from $113.7 million a year prior.
