May 14, 2024

Indeed CEO Chris Hyams announced in a post the company was laying off approximately 1,000 people, or approximately 8% of its workforce.

“I am sad to share the news that we have made the difficult decision to reduce our headcount through a layoff,” Hyams wrote. “Unlike last year, where our reduction was driven by cost savings, we are taking this action because we need to simplify our organization to make it easier and faster for us to make decisions and help us to more effectively grow revenue and hires.”

The layoffs, announced May 13, are mostly concentrated in the US and focused on research and development and some go-to-market teams. The reductions have had no measurably disproportionate impact on women and underrepresented genders or the underrepresented minority population in the US.

“Last year we were facing a global slowdown in hiring, which led to multiple consecutive quarters of revenue loss,” Hyams wrote. “We reduced our headcount, instituted multiple cost-saving measures and instilled investment discipline across the company. These measures worked, and we are now operating with stable profitability.”

He continued, “However, while the global economy has improved in several areas over the past year, we are not yet set up for sustainable growth. Despite our efforts so far, our organization is still too complex; we still have significant duplication of effort and too many organizational layers that slow down decision-making. We have been working to simplify every aspect of our business, but without meaningful change, we can’t get where we need to go.”

Indeed is committed to providing as much support as possible to those who are leaving, Hyams wrote.

Indeed is owned by Tokyo-based staffing giant Recruit Holdings.