Job-search platform Indeed.com lays off another 1,000 employees

[Jobhunter]

 

Indeed, the renowned job-search platform, has announced a significant reduction in its workforce. The company plans to let go of approximately 1,000 employees, which constitutes about 8% of its total workforce. This decision marks the second instance of staff reduction in the past two years.

 

Indeed’s CEO, Chris Hyams, has publicly stated that the company is profitable. However, he also acknowledged that the organization is not currently structured for sustainable growth. This statement raises questions about the future trajectory of the company.

 

The layoffs are reportedly more targeted than the previous reduction of 2,200 workers. The primary areas affected by this decision are the research-and-development and go-to-market teams. This strategic move aims to simplify the organization and reduce the number of management layers.

 

The company has assured that it has worked with its human-resources, legal, and diversity, equity, and inclusion teams to ensure that underrepresented groups are not disproportionately affected by the cuts. The company plans to hold an internal town hall meeting and provide an updated organizational chart.

 

This news follows a string of tech layoffs in 2024, raising concerns about the stability of employment in the tech industry. As Indeed navigates this challenging period, it remains to be seen how these changes will impact its position in the job-search market.

 

 

 

Read more:

• https://www.indeed.com/press/releases/a-message-from-our-ceo-chris-hyams-2
• https://www.mysanantonio.com/business/article/indeed-layoffs-2024-19455960.php
• https://www.sfgate.com/tech/article/indeed-1000-layoffs-foster-city-19456103.php
• https://www.statesman.com/story/business/real-estate/2024/05/13/indeed-layoffs-jobs-cut-austin-texas-ceo-chris-hyams/73674932007/

 

Image: Vasile Bobirnac | Dreamstime.com