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Exclusive: Vonage CEO: No Layoffs Globally for Three Months and We're Hiring

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Jobless claims came in on Thursday, April 16 with over 5.2 million people filing for unemployment since last week.

That means that there are around 22 million Americans who are unemployed because of the coronavirus pandemic. 

But, some companies--like Vonage--are actually looking to hire at this time.

Alan Masarek, CEO of Vonage  (VG) - Get Vonage Holdings Corp. Report joined TheStreet to talk about his pledge to employees for no layoffs for three months and the open positions Vonage has. 

Watch the full video above for more.

Video Transcript:

Katherine Ross:
Yeah, as a company that's kind of posed to be very necessary in this stay at home economy, are you hiring right now?

Alan Masarek:
We are. We're actively hiring. We're doing no layoffs. We have seen, just to give you an example of the demand increase in certain areas, in telehealth, in video in telehealth, over the last four weeks, we've seen a 2000% increase in the minutes being served, the video sessions being served. And that's because we drive virtually all the major telehealth providers. And you mentioned some at the beginning around Teladoc, Doctolib, Docplanner Group, Babylon Health, Cigna, plus, plus, plus. And so you see this very dramatic growth. Telehealth is probably the most pronounced, but you see it significantly in other areas as well, like distance learning.

Katherine Ross:
Before I let you go, I've got one final question, and Jim Cramer's kind of talked about this with a bunch of his interviewees, so I'm going to ask you the same question. Can you promise not to lay anyone off for the next month?

Alan Masarek:
We already have made that promise to our employees, that we're doing no COVID-related layoffs anywhere globally. We've actually guaranteed for three months. So, again, the key thing as you think about it is, what we provide for this market is critical. It's essential. It enables the virtualization of the workforce, enables the remote delivery of services. This in large measure, has been a boon to our business, almost tragically so, because of what's happened as of COVID. What we worry about is the economy softening across the board, because if companies go out of business in large numbers, obviously that's problematic for everybody. And so, we're taking our piece of that, that we're not involved in any layoffs, we're continuing to drive the company forward. We have 260 open positions, I think, out of a company of 2500, 260 open positions, that we're actively searching for now. So, we're doing our part, trying to support the economy where we can.

Katherine Ross:
I'm glad to hear that. Alan, thank you so much for taking the time to talk with us today.

Alan Masarek:
My pleasure. Thanks so much for having me.

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