Marketing technology firm ZoomInfo plans to lay off 3% of workforce

ZoomInfo, a US-based marketing technology company, has announced it will furlough about 3 percent of its workforce worldwide, joining several other tech companies that have recently cut jobs.

In a filing with the US Securities and Exchange Commission (SEC), ZoomInfo said it

“The Company estimates that it will incur restructuring charges of approximately $6 million in connection with this plan, which will primarily be recognized in the second quarter,”

“notified employees of a plan to flatten the organizational structure, speed decision making, and enable investment in key opportunities for long-term growth while driving continued profitability”.

Seeking Alpha said in its latest annual report that it employs 3,540 people as of December 31, 2022.

In addition, the company announced that it will provide all affected employees with an average 10-week severance package, vested equity incentives, and a health education fund.

“As the Company indicated on its most recent financial results conference call, we plan to continue to hire within sales, engineering, and customer success and make investments to further leverage the Company’s generative AI capabilities,”

ZoomInfo.

Meanwhile, job search engine ZipRecruiter has announced to reduce its global headcount by approximately 270 employees, which represents approximately 20 per cent of the company’s total number of employees.

In a filing with the US SEC, the company said that the action was taken in response to current market conditions and after reducing other discretionary expenses, “with a view toward driving long-term efficiency”.