Hyams said unlike last year, when the cuts were driven by cost savings, the reasoning behind the current sweep of layoffs is "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."
AUSTIN (KXAN) — Career site Indeed is letting go of roughly 8% of its staff, approximately 1,000 people, according to a letter shared with employees on Monday.
The layoffs affect many groups and regions, but they are not across the board. The impacted jobs are mostly concentrated in the U.S. and more focused on "R&D and some Go-to-Market teams," CEO Chris Hyams said in the letter.
Around this time last year, Indeed laid off about 15% of its staff, citing a decrease of job openings following a post-COVID boom.
Hyams said unlike last year, when cost savings drove the cuts, the reasoning behind the current sweep of layoffs is "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."
Indeed leaders worked with HR, legal and diversity, equity, inclusion and belonging (DEIB+) teams to "ensure objectivity and equity in the decision-making process," Hyams said.
"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 added.
The letter also said that those impacted should receive notice on Monday, including information about separation packages, which have been increased for most employees over the past year.
You can read more of Hyams' letter below. The full letter is available on Indeed's website.
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. 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.
Last year we were facing a global slowdown in hiring, which led to multiple consecutive quarters of revenue loss. We reduced our headcount, instituted multiple cost-saving measures, and instilled investment discipline across the company. These measures worked, and we are now operating with stable profitability.
However, while the global economy has improved in several areas over the past year, we are not yet set up for sustainable growth. 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. We have been working to simplify every aspect of our business, but without meaningful change, we can’t get where we need to go.
Indeed CEO Chris Hyams
