Workhuman, an Irish software firm, has announced to let go 10 per cent of its workforce as a part of its restructuring process. The company has plans to restructure its investments in the US, Ireland, and the wider Europe, Middle East, and Africa region in response to the uncertain economic environment.
Eric Mosley, CEO, WorkHuman, cited the need to realign investments with new strategic initiatives and exercise prudence given the volatile macro environment, reported Irish Times. The company plans to consult with staff regarding these initiatives. The Minister for Enterprise, Trade, and Employment will be informed as part of this process.
Workhuman currently employs over 1300 employees, being a strong 600 workforce in Ireland, reported Irish Times. While the exact number of job cuts has not been determined, it is believed to be approximately 150 roles worldwide.
Logitech International, a company that produces computer peripherals such as keyboards and webcams, is implementing a global reorganisation that will result in around 300 job cuts. According to Nicole Kenyon, a company spokeswoman, “a number of our employees were affected,” reported Bloomberg.
This move follows the trend of downsizing in the technology industry. Additionally, the company also revealed that its revenue for computer peripherals dropped after a pandemic boom due to lower consumer and enterprise spending.
As per the annual report, the company currently has an employee base of 8,200 employees as of March 2022. Bloomberg also mentioned that the company has recently hired a new chief financial officer, Charles Boynton, in January.
Indeed, a job search platform, has announced plans to cut 2,200 jobs, representing 15 per cent of its workforce. The decision follows other companies as they plan to restructure their labour force following a hiring surge driven by the pandemic.
Along with the layoff plans, Chris Hyams, CEO, Indeed, also stated that he will take a 25 per cent reduction in base pay. The statement also mentioned that future job openings were either at or below pre-pandemic levels and that the company had become too large.
However, affected employees will receive their January through March bonuses and regular pay for the month, according to the company’s blog. The CEO also noted that human resource technology revenue is expected to decline in fiscal years 2023 and 2024, and that US job openings are expected to fall to pre-pandemic levels of 7.5 million or even lower in the next two to three years.
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