Hiring company founded in CT to lay off 1,000 people. What to know.

CEO Chris Hyams wrote in a message to employees that it will be laying off about "8% of the company."

Indeed, a global hiring company founded in Connecticut, has announced that it will be laying off “approximately 1,000 people, which would be about “8% of the company.”

“While the reductions touch many groups and regions, they are not across the board like last year; rather they are mostly concentrated in the US, and are more focused on R&D and some Go-to-Market teams,” CEO Chris Hyams wrote in a message to employees.

While Indeed as established in Connecticut and has offices here, no WARN notice of layoffs was posted on the state Department of Labor website.  An email seeking comment was sent to the company.

“Unlike last year, where our reduction was driven by cost savings, we are taking this action because we need to simplify our organization to make it easier and faster for us to make decisions, and help us to more effectively grow revenue and hires,” Hyams wrote to employees.

Hyams’ message noted “We worked closely with the HR, Legal, and DEIB+ teams to ensure objectivity and equity in the decision-making process. The final selections have had no measurably disproportionate impact on women and under-represented genders or the under-represented minority population in the US.”

He said that employees outside of Ireland, the UK, and Australia would be “informed of whether or not you have been impacted by this decision.”  The company notes online that is has more than “13,000 global employees.”

“Package amounts have been increased for most employees over last year, and include severance, healthcare payment where applicable, and outplacement services, among others,” he wrote.

“I am responsible for how we got here, and the entire SLT is responsible for making the difficult decisions necessary to help set us up for the future,” Hyams said in the note, “We know these decisions will have a significant impact on people’s lives. I’d like to share some context for why I believe it’s necessary.”

Hyams noted:

• Last year the company faced a global slowdown in hiring, which led to multiple consecutive quarters of revenue loss.
• The company reduced its headcount, instituted multiple cost-saving measures, and instilled investment discipline across the company.
• The measures worked, and Indeed is now operating with stable profitability.
• While the global economy has improved in several areas over the past year, we are not yet set up for sustainable growth.
• At a high level, Indeed is significantly restructuring the R&D team to align with our marketplace strategy, and we are reducing layers of management, restructuring and aligning some Go-to-Market teams, and eliminating most of the Sales and CS roles in Foster City, Calif. “Across the business we are making additional changes to simplify decision-making and create clarity.”

“Despite our efforts so far, our organization is still too complex, we still have significant duplication of effort and too many organizational layers that slow down decision-making,” he wrote. “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 note did not give specific location of the layoffs.

“As difficult as these changes are, our new structure will help us to simplify and work more effectively as one team, reignite growth in revenue, and drive toward our 2030 goal to help 100 million people get jobs.”