Indeed, the popular careers site, has announced significant layoffs affecting approximately 1,000 employees, which accounts for about 8% of its workforce. This move, aimed at streamlining the organization, comes as the company’s CEO, Chris Hyams, takes responsibility for the decision, acknowledging that the firm is still grappling with challenges hindering its growth trajectory, particularly following last year’s global slowdown in hiring, which led to a decline in sales.
In a public memo, Hyams noted that unlike the broad-based layoffs of 2,200 employees witnessed last year, the current round of cuts will be more concentrated in the United States. He specified that the research-and-development and go-to-market teams will bear the brunt of these layoffs. The primary objective behind these measures is to eliminate excessive organizational layers that have been impeding progress.
Hyams emphasized the necessity for substantial changes within the company to drive it towards its desired objectives, stating, “We have been working to simplify every aspect of our business, but without meaningful change, we can’t get where we need to go.”
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Furthermore, to ensure fairness and equity throughout this process, Indeed will collaborate closely with its human resources, legal, and diversity, equity, and inclusion teams. Hyams reassured that the company is committed to minimizing the impact on underrepresented groups.
Looking ahead, Indeed plans to share an updated organizational chart in due course, signaling its commitment to transparency and clarity amidst these restructuring efforts.
