US Based Job Search Platform Indeed lays off 2,200 employees. An organization that assists people in finding jobs will now have to embark on its own job search. A company-wide meeting announced that Indeed had laid off 15% of its employees.
Indeed laysoffs News
Chris Hyams, the CEO of Indeed and Indeed Flex, announced that nearly every team, function, level, and region will be impacted by job cuts.
In the recent blog post CEO Chris Hyams has made an statement regarding the impact of laying off the employees. The number of people we will be letting go is estimated to be approximately 2,200. About 15% of our team is represented by this number. Many teams, functions, levels, and regions at Indeed and Indeed Flex have been cut. It was extremely difficult to decide who and where to cut, but the decisions were made with great care.
Our focus was on preparing the organization for the future, aligning with our strategy and priorities, and reducing duplication of effort. In these decisions, we worked closely with HR, Legal, and DEIB+ teams to ensure objectivity and equity. It has not been reported that the final selections have had a disproportionate impact on women and underrepresented genders, nor on the minority population.
Employees were emailed about their job status within an hour of the announcement — the subject lines of these emails either read “Your Position Has Been Impacted” or “Your Position Has Not Been Impacted.” Employees in the U.K., Ireland, the Netherlands and Japan may still be in limbo, due to local regulations.
The CEO said he will take a 25 per cent cut in base pay. Additionally, more than 75 per cent of “my total compensation is directly tied to Indeed revenue growth, and is at risk given current trends,” he said.