8x8

How it happened

8x8 is a cloud-communications provider, offering unified communications and contact-center software to businesses. A pandemic-era beneficiary of the shift to remote work, its stock peaked in early 2021 with a market value around $4.5B. As demand normalized and it faced fierce competition from Zoom, Microsoft Teams and RingCentral — while carrying meaningful debt and thin margins — the stock slid almost continuously to around $240M, roughly 95% below its peak. Glassdoor reviews describe the grind from inside: employees counted repeated layoff rounds and a steady shift of engineering and support jobs to lower-cost sites in Romania, India and the Philippines, alongside heavy executive turnover and an aging product they felt had fallen behind rivals.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.