Qumu Corp. is virtualizing all roles and instituting a "work from wherever, forever" policy for its employees, the video technology company said Tuesday.
The policy, effective Tuesday, eliminates the company's dedicated 13,000-square-foot office in the North Loop neighborhood of Minneapolis, as well as locations in London and Hyderabad, India, while still maintaining its office iin Burlingame, Calif..
Minneapolis-based Qumu (NASDAQ: QUMU) is giving full-time employees a work at-home stipend and plans on holding local team meet-ups and social gatherings when permitted.
The company had 105 employees at the end of 2019, according to securities filings.
Qumu CEO TJ Kennedy said it was important to be one of the first companies in its industry to acknowledge the changing workplace dynamic and use its own technology to make a successful transition.
“At Qumu, we believe a ‘work from wherever, forever’ policy is the socially responsible thing to do — for our employees and their health, for the wellbeing of the planet, and for our outside stakeholders and their investments in our future,” Kennedy said. “One of Qumu’s primary objectives with this policy is to set a great example for other organizations when it comes to remote work, and this move will allow us to do that.”
The company also believes the new policy will help recruit more talent.
“Full office virtualization makes Qumu a great option for an entire world of job seekers,” said Jason Karp, chief commercial officer and chief counsel. “Offering flexible working arrangements is a significant differentiator when competing for high-end talent, and we’re excited about the possibilities on the recruiting front.”
