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Ziprecruiter cuts 270 jobs as CEO takes 30 percent pay cut
https://www.whatjobs.com/news/usa/us-employment-news/ziprecruiter-cuts-270-jobs-as-ceo-takes-30-percent-pay-cut
A program of 270 cuts at job-hunting platform Ziprecruiter is set to come to an end as the company struggles in a cautious hiring environment.
The company planned to see the cuts finish by tomorrow (Friday, June 30).
After making the announcement last month, the company said: "This action was taken in response to current market conditions and after reducing other discretionary expenses, with a view toward driving long-term efficiency.”
READ MORE: ZipRecruiter share price plunges as CEO admits to a “cooling hiring environment”
The company's CEO Ian Siegel has also taken a 30 percent pay cut on his $550,000 salary.
CNN reported around half the staff leaving are in sales and customer support teams.
It is thought the move will cost between $7 million and $9 million in severance costs.
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The cuts follow massive reductions across the tech sector.
Amazon has already carried out two massive reductions of around 27,0000 staff.
Facebook owner Meta has also cut 21,000 jobs.
The likes of Google owner Alphabet, Microsoft and Salesforce have all carried out large job cuts.
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