ZipRecruiter Sees Massive Drop in Fourth-Quarter Revenue
Jobs giant ZipRecruiter has been hit by "one of the most sluggish hiring periods in recent history" which has resulted in a big fourth-quarter revenue drop.
The job listing website saw its fourth-quarter revenue decrease by 35.4 percent to $135.92 million.
In a letter to its shareholders, the Santa Monica, California-based firm expressed cautious optimism regarding the U.S. economy's prospects for avoiding a recession in 2024, aiming for a "soft landing."
It said: "Although many macroeconomic forecasts are optimistic about the US economy managing a ‘soft landing’ without a recession in 2024, we remain nimble and prepared to adapt to a wide range of economic scenarios.
“Our ability to adapt quickly amidst uncertainty is built upon our strong financial foundation, defined by both a historical track record of profitability and a healthy balance sheet.”