Zoom has told its employees to return to the office for the first time since the video communications tool saw a boom during the remote work revolution of the coronavirus pandemic.
The tech company is now requesting all employees within 50 miles of a company office to return for in-person work at least two days a week on a hybrid schedule.
“We believe that a structured hybrid approach – meaning employees that live near an office need to be onsite two days a week to interact with their teams – is most effective for Zoom,” a company spokesperson said in a statement to Insider. “As a company, we are in a better position to use our own technologies, continue to innovate, and support our global customers.”
Zoom’s shares skyrocketed in 2020 when the COVID-19 pandemic forced millions of employees and students to work online from their homes. The resource allowed people to connect with coworkers, educators and classmates over video chat as much of the world was stranded in their homes.
“We’ll continue to leverage the entire Zoom platform to keep our employees and dispersed teams connected and working efficiently,” the spokesperson said.
Despite the availability of several other video conferencing tools, including Skype and Microsoft Teams, Zoom quickly emerged as the go-to video conferencing service.
But towards the end of 2021, Zoom’s stock took a nose dive and the company has lost at least $100 billion in market value since that point as employees around the globe return to the office and no longer require video conferencing. The stock stagnated again this year as workers continue returning to work in person.
Zoom said in January 2022 that only 2% of its workforce worked in its offices. The company, which employs more than 8,400 people worldwide, has two U.S. offices in San Jose, California, and Denver, Colorado, as well as several international sites.