Glassdoor has confirmed laying off 15 per cent of its workforce, attributing the decision to the changing macroeconomic climate. The job cuts will impact about 140 employees.
According to the company’s official statement, this decision was influenced by a decrease in both revenue trends and employee retention rates. In a memo sent to employees, Christian Sutherland-Wong, CEO, Glassdoor, said, “From the start we said that layoffs would be a last resort. Unfortunately, we have reached that point. It is with a heavy heart that I share that I have made the difficult decision to reduce our workforce.”
The memo confirmed the number of job cuts, the company has planned on, along with the location of its offices. It stated, “Those of you in the US whose roles are being impacted will receive a meeting invitation (Subject: Follow Up Meeting) within the hour to meet with your manager or team lead. For those whose roles are not impacted, you will receive an email confirmation (Subject: Your Role is Not Impacted), also within the hour.”
Additionally, it expressed that despite the company’s efforts to control costs by freezing hiring, reducing program expenses, and cutting back on travel and events, the decision to reduce the workforce was unavoidable, and the outcome is distressing.
The company plans to provide support for departing employees by offering them a minimum of 16 weeks of base pay, healthcare coverage for four months, and a full payout of their spring 2023 bonus. The company will also assist with job searches and has also allowed the employees to keep their Glassdoor laptops with them. The details of every individuals’ severance package is also specific to them and their location, and the company will also provide for any further clarification.
Prior to this recent round of job cuts, Glassdoor had already laid off approximately 300 employees in May 2020, which accounted for 30 per cent of its total workforce at that time and 50 per cent of its Chicago office.
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