Zoho intends to set up offices in 100 rural districts to recruit local talent
- ByStartupStory | July 13, 2022
Zoho Corporation, a large SaaS company, announced plans on Wednesday to open a slew of small rural offices staffed by 20 to 30 individuals, allowing around 70 percent of its workers to continue working from home even when the lockdown is lifted entirely. The firm has canceled bonuses for its employees and it may adopt a pay cut if necessary in the future, but it will prevent layoffs at all costs, according to the corporation. It stated that the SaaS (Software as a Service) industry will experience much-anticipated restructuring as a result of the Covid-19 debacle and that the economic recovery will be delayed. Zoho is reducing marketing expenditure and reorienting products to meet the changing market.
“We are going to advise our staff to use discretion in coming to the workplace,” said Zoho Corporation CEO and co-founder Sridhar Vembu, at a virtual press event, staged in a village near Tenkasi in southern Tamil Nadu. Perhaps just 30% of the population will show up to vote. We are planning 2 small rural offices shortly, and we will have many more in the coming months to a year.”
The economic recovery may not be V-shaped or U-shaped, and it will be prolonged owing to many systemic concerns that arise throughout the pandemic period. This will result in SaaS consolidation, which is long overdue. Customers must tolerate too many subscriptions since there are many players. These concerns were already present, but they were just recently brought to light, according to Vembu.
SaaS players with a strong balance sheet, the capacity to bear cost structures that are aligned, and who are not spending excessively can survive this. Zoho will be a neutral observer in this consolidation since it does not want to go out and raise funds for any acquisition in this environment. The corporation is reorienting its goods to reflect the current trends.
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