Indeed announces another round of layoffs, cutting 8% of its staff in the US
by Stephanie Becerra
The Austin-based employment company, Indeed, announced on Monday another round of layoffs — cutting approximately 1,000 people, which is about 8% of its staff in the U.S. (Photo: CBS Austin)
AUSTIN, Texas —
The Austin-based employment company, Indeed, announced on Monday another round of layoffs — cutting approximately 1,000 people, which is about 8% of its staff in the U.S.
Just over a year ago, in March 2023, the company laid off about 15% of its staff, or 2,200 people.
The company says it needed to make the difficult decision to reduce its headcount to simplify and work more effectively as one team, reignite revenue growth, and drive toward its 2030 goal to help 100 million people get jobs.
In the letter, the CEO Chris Hyams took responsibility for how the company got to this point.
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. 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.
It’s unclear how many employees in the Austin division will be laid off, but in the letter, Hyam says they are restructuring the R&D team, reducing management and some Go-to-Market teams, and eliminating most of the sales and Customer Service roles in Foster City, California.
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Source Link: https://cbsaustin.com/amp/news/local/indeed-announces-another-round-of-layoffs-cutting-8-of-its-staff-in-the-us
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Indeed announces another round of layoffs, cutting 8% of its staff in the US by Stephanie Becerra Monday, May 13th 2024 The Austin-based employment company, Indeed, announced on Monday another round of layoffs — cutting approximately 1,000 people, which is about 8% of its staff in the U.S. (Photo: CBS Austin) AUSTIN, Texas — The …