Indeed Layoffs: Job Portal To Fire About 1,000 Employees

Indeed Layoffs: In a publicly released memo on Monday, CEO Chris Hyams took responsibility for the company's current situation, stating that Indeed still needs to prepare for growth

Indeed Layoffs ( Image Source :Getty )

Indeed Layoffs: The career site Indeed has announced plans to lay off around 1,000 employees, which constitutes about 8 per cent of its total workforce. This decision is part of the company's broader strategy to simplify and streamline its organisational structure. By reducing its headcount, Indeed aims to enhance operational efficiency and better align its resources with current business needs. The layoffs are expected to help the company adapt to changing market conditions and position itself for future growth.

In a publicly released memo on Monday, CEO Chris Hyams took responsibility for the company's current situation, stating that Indeed still needs to prepare for growth. He attributed this to the global hiring slowdown last year, which led to several consecutive quarters of declining sales.

Unlike the broad-based reduction of 2,200 employees witnessed last year, Hyams has indicated that the current round of cuts will be more focused within the United States. Furthermore, the impact will predominantly be felt by the research and development and go-to-market teams.

The decision also seeks to streamline the company by minimising the number of organisational layers, echoing a strategy reminiscent of Mark Zuckerberg's initiative last year. Zuckerberg, the CEO of Meta, expressed his intention to "flatten" the firm's organisational chart then.

"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 in the memo.

Hyams further elaborated that the company collaborated extensively with its human resources, legal, diversity, equity, and inclusion teams to meticulously assess and mitigate any disproportionate impact on underrepresented groups resulting from the layoffs. 

Additionally, he mentioned that the company plans to facilitate an internal town hall session on Tuesday to address any concerns or queries, followed by the provision of an updated organisational chart on Wednesday.