Indeed announces 2,200 layoffs that will hit most teams
Job site Indeed has confirmed it will carry out 2,200 staff layoffs in every area of the business, which will impact nearly 15 percent of its workforce.
In a message on the company website, CEO Chris Hyams said: “I am heartbroken to share that I have made the difficult decision to reduce our headcount through layoffs. This is a decision I truly hoped I’d never have to make.
“Leading a company whose mission is to help people get jobs, every single day I think about how important a job is in a person’s life. Losing a job is extraordinarily hard, financially and emotionally.
“For those who will be leaving, we are working to bring as much support as possible to each of you.
“The cuts come from nearly every team, function, level and region.
“The specific decisions on who and where to cut were extremely difficult, but they were made with great care.”
Indeed’s forecast that the job market will keep falling after “the recent post-COVID boom” led to the decision to slash workers.
The company expects job listings to continue declining in 2023 and 2024.
Hyams added: “Last quarter, US total job openings were down 3.5 percent year-over-year, while sponsored job volume fell 33 percent.
“In the US, we are expecting job openings will likely decrease to pre-pandemic levels of about 7.5 million, or even lower over the next two to three years.”
Employees who kept their jobs got an email with the subject “Your Position Has Not Been Impacted.”
The email subject line for those laid off read: “Your Position Has Been Impacted.”
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Yesterday (Wednesday, March 22) was the last day for the terminated workers.
The firm said they will get regular payments until the end of March, plus a 16-week severance pay.