Zoom Technologies Inc (NASDAQ:ZOOM), the video conferencing giant that became emblematic of remote work during the pandemic, is ushering its employees back to the office.
Advocating a "structured hybrid approach", the company expects those living within 50 miles of an office to attend in person at least twice weekly.
This move mirrors the trend of major corporations, including Amazon, Goldman Sachs (NYSE:GS), Meta and Disney, recalibrating their flexible work policies.
The company's revised stance will be implemented between August and September, with variations by country.
Zoom's decision comes amidst intensifying competition, with rivals like Microsoft enhancing their video capabilities.
After a meteoric rise during the pandemic, Zoom's growth has decelerated, with its shares plummeting from over $500 in October 2020 to around $68 currently.