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Indeed to lay off about 1,000 employees, cutting their US workforce by 8%

Women's Tabloid News Desk
Women's Tabloid News Desk

The career sight Indeed is letting go of approximately 8% of its US workforce, which comes to around 1,000 employees, according to a letter circulated among its employees. 

The layoffs will affect across regions, but isn’t all over the company. The layoffs are mainly concentrated in Indeed’s US offices. According to CEO Chris Hyams, employees from “R&D and some go-to-market teams” will bear the brunt of these layoffs.

“I am responsible for how we got here, and the entire SLT is responsible for making the difficult decisions necessary to help set us up for the future. We know these decisions will have a significant impact on people’s lives. I’d like to share some context for why I believe it’s necessary. Last year we were facing a global slowdown in hiring, which led to multiple consecutive quarters of revenue loss. We reduced our headcount, instituted multiple cost-saving measures, and instilled investment discipline across the company. These measures worked, and we are now operating with stable profitability. However, while the global economy has improved in several areas over the past year, we are not yet set up for sustainable growth. Despite our efforts so far, our organization is still too complex, we still have significant duplication of effort and too many organizational layers that slow down decision-making. We have been working to simplify every aspect of our business, but without meaningful change, we can’t get where we need to go”, said Chris Hyams, CEO of Indeed, in his letter to the employees.

Around this time last year, Indeed laid off about 15% of its staff, citing a decrease of job openings following a post-COVID boom.

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