The Job Forum Indeed; Reduces Its Workforce By 1000
This marks the second major layoff by the job provider in 2 years
Indeed, the prominent job site, is implementing a reduction of approximately 1,000 employees, constituting 8% of its workforce. Unlike the previous year, these layoffs are not uniform across all departments and regions.
Primarily concentrated in the United States, the layoffs predominantly affect Research and Development (R&D) teams and some Go-to-Market teams.
CEO Chris Hyams conveyed a message to employees, acknowledging the difficulty of the decision but emphasizing its necessity for organizational simplification and streamlined decision-making processes. The company asserts that these layoffs are intended to refocus efforts on its core business of facilitating job search services for both employers and job seekers.
This downsizing coincides with heightened competition from other job boards such as LinkedIn and Glassdoor, as well as investor pressure to enhance profitability.
"We believe that these strategic adjustments will ultimately position Indeed as a more robust company for the long haul," remarked Hyams.
He further stated, "I assume full responsibility for our current circumstances, and the entire Senior Leadership Team (SLT) shares accountability for the challenging decisions required to pave the way for our future success. We recognize the significant impact these decisions will have on individuals' lives, and I want to provide some context for why we believe these steps are necessary."
