Indeed has announced major cuts, reducing its workforce by about 1,000 employees, constituting roughly eight per cent of its global staff. The decision was conveyed in a letter to employees on Monday, 13 May 2024.
The letter from Chris Hyams, CEO, Indeed.com, attributed the job cuts to the company’s efforts to simplify the organisation. It is also aimed at facilitating swifter decision-making processes, bolstering revenue and hiring endeavours.
It highlighted that unlike the previous year’s reductions primarily driven by cost-saving objectives, this year’s action aims at optimising efficiency to meet growth targets. Furthermore, it aims to assist 100 million individuals in securing employment by 2030.
The letter also clarified that while the current round of layoffs impacts various groups and regions, it is more concentrated in the US, particularly affecting research and development (R&D) and certain Go-to-Market teams.
The decision-making process, as per Hyams, was fair and that there was no disproportionate impact on women, underrepresented genders, or minority groups in the US. Furthermore, the letter detailed the provision of separation packages tailored to regional requirements, encompassing severance, healthcare coverage where applicable and outplacement services, among other benefits.
Consequently, Indeed will embark on significant restructuring within its R&D division, streamline management layers and implement measures aimed at enhancing decision-making efficiency and organisational clarity. To address employee inquiries, company executives have scheduled a global town-hall meeting.
In March 2023, Indeed had announced a reduction of 2,200 positions, representing about 15 per cent of its global workforce. Citing market conditions and decreased demand for its technology amidst a subdued job market, the company had decide to undertake those cuts.
