Indeed has unveiled plans to reduce its workforce by approximately 1,000 employees as part of a strategy to streamline its operations. In a bid to implement organisational changes, the Texas-based job site will be laying off about 8% of its total staff.
CEO Chris Hyams has taken accountability for these job cuts, attributing them to the enduring repercussions of decreased global hiring activity last year, which resulted in a decline in company sales. This round of layoffs follows a previous downsizing of 2,200 employees last year, initiated by Indeed to manage costs amid a revenue slowdown.
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In a public statement, Hyams clarified that unlike the widespread reduction seen last year, this latest round of cuts will primarily affect employees based in the US. The teams most impacted will be those engaged in research and development, as well as go-to-market functions. Hyams explained that the aim of these layoffs is to address the issue of excessive organisational layers within the company.
Hyams explained that they have been striving to simplify every aspect of their business, emphasising that substantial change is necessary to achieve their objectives.
He reassured that the company is committed to collaborating closely with its human resources, legal, and diversity, equity and inclusion (DEI) teams to ensure that these job cuts do not disproportionately impact underrepresented groups.
Hyams mentioned that an updated organisational structure reflecting these changes will be communicated at a later date.
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