RingCentral
RingCentral last month cut its workforce by 10% despite a strong third-quarter performance. As of 2020, RingCentral had more than 3,000 employees.
RingCentral garnered $509 million in the third quarter, which was $94 million more than in the same quarter last year. Sales increased by 23% year over year. Even so, the company still had a GAAP operating loss of $183 million, $100 million more than quarter three of last year.
Vlad Shmunis is RingCentral’s founder, chairman and CEO. He told UC Today that it was an “extremely difficult decision” but that it would allow more agility for the company’s strategic priorities.
Shmunis didn’t specify what those priorities were.
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