Indeed, Co-Headquartered In Stamford, Announces 1,000 Layoffs

STAMFORD, CT — Indeed, the job services giant co-headquartered in Stamford, announced on Monday it will be laying off approximately 1,000 workers, representing about 8 percent of the entire company.

The news comes a little over a year after Indeed laid off 2,200 employees across the board.

This time, in an effort to simplify the company, layoffs will be mostly concentrated in the United States and more focused on R&D and Go-to-Market teams, according to Indeed CEO Chris Hyams, who sent a letter to employees on Monday.

It’s unclear how many Stamford employees will be affected; a request for more information on layoff numbers was not answered Monday, but Indeed issued an emailed statement to Stamford Patch:

“Indeed remains committed to Connecticut. The state continues to be very business friendly, with strong support for our workforce and users – job seekers and employers. Additionally, Stamford is still a key sales office for Indeed, and integral to Indeed’s long-term plans.”

The offices in Stamford are located at 177 Broad St. News 12 CT’s John Craven said Monday Indeed received approximately $30 million in state loans and tax breaks when it expanded in 2017-2018.

In his letter to employees, Hyams said Indeed is still “too complex,” and there is still a “significant duplication of effort and too many organizational layers that slow down decision-making.”

Hyams said that last year, Indeed was grappling with a global slowdown in hiring, which led to multiple consecutive quarters of revenue loss and March layoffs.

While the global economy has improved in several areas over the past year, according to Hyams, Indeed is not yet set up for sustainable growth.

“We have been working to simplify every aspect of our business, but without meaningful change, we can’t get where we need to go,” Hyams said.

Affected employees were set to be notified by email Monday if they had been laid off.

Separation packages will vary by region, Hyams said, and package amounts have been increased for most employees over last year, and include severance, health care payment where applicable, and outplacement services, among others.

Indeed leadership worked with HR, legal and DEI teams “to ensure objectivity and equity in the decision-making process” for the layoffs, Hyams said.

“The final selections have had no measurably disproportionate impact on women and under-represented genders or the under-represented minority population in the US,” Hyams added.

Indeed’s global headquarters are in Austin, Texas.

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WP8, announces, CoHeadquartered, layoffs, Stamford – Indeed, Co-Headquartered In Stamford, Announces 1,000 Layoffs – #WP8

STAMFORD, CT — Indeed, the job services giant co-headquartered in Stamford, announced on Monday it will be laying off approximately 1,000 workers, representing about 8 percent of the entire company. The news comes a little over a year after Indeed laid off 2,200 employees across the board. This time, in an effort to simplify the …

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