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Recruitment giant StepStone to cut 215 jobs

By Hugh Fort in UK Business News, posted November 1, 2023

Recrutier StepStone has announced it cutting around 215 jobs after admitting parts of the business are "too complex and inefficient.

The company's CEO Sebastian Dettmers wrote to staff this week to announce the cuts, which he called "significant organizational changes.

In a letter published on the company's website, he said: "Over the last few years our company has grown strongly, and we have made big steps in helping companies to hire the right talent.

"We launched highly innovative products, expanded our footprint in Europe and the US, and hit record numbers.

"But we also need to acknowledge that during this time, many areas of our business have become too complex and inefficient.

"At this stage of our journey, I believe now is the right time to implement changes that will streamline our operations and sharpen our commitment to critical areas of our business.

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"We intend to increase our focus on delivering customer value, on our global platform and to shift investments towards AI, innovation, and the automation of work.

"Unfortunately, these changes mean that we will need to let some colleagues go who have made The Stepstone Group what it is today.

"This was not an easy decision to take.

"We recognize the great effort and contribution of all our people, and it is incredibly difficult to say goodbye to valued members of The Stepstone Group."

He said the company has decided to "centralize various functions."

He added: "We have taken the decision to remove positions that may no longer be needed."

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Who is affected?

Around 215 will leave the company - around five percent of the workforce.

Some staff have already left and the process is expected to conclude in early December.

He said: "While it is extremely tough to share this news, I truly believe the decisions we have taken will increase collaboration, innovation and position us for a strong future."

Stepstone Group operates in more than 30 countries – including Stepstone in Germany, Appcast in the USA and Totaljobs in the UK.

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