Indeed to lay off 1,000 employees
TEXAS, UNITED STATES — Indeed CEO Chris Hyams announced that the company will be laying off approximately 1,000 employees, representing about 8% of its workforce.
The decision, disclosed in a memo written by Hyams, is aimed at simplifying the organization to enhance decision-making and drive growth.
Reason for layoffs
In his memo, Hyams explained the rationale behind the layoffs, distinguishing it from the previous year’s cost-saving measures.
“I am sad to share the news that we have made the difficult decision to reduce our headcount through a layoff,” Hyams wrote.
“Unlike last year, where our reduction was driven by cost savings, we are taking this action because we need to simplify our organization to make it easier and faster for us to make decisions and help us to more effectively grow revenue and hires.”
Impact and focus areas
The layoffs will predominantly affect employees in the United States, with a significant focus on research and development (R&D) and certain go-to-market teams.
Hyams assured that the reductions have had no measurably disproportionate impact on women, underrepresented genders, or the underrepresented minority population in the U.S.
Background and context
Hyams provided context for the decision by reflecting on the challenges faced by the company over the past year. “Last year we were facing a global slowdown in hiring, which led to multiple consecutive quarters of revenue loss,” he wrote.
“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.”
Need for organizational simplification
Despite these improvements, Hyams emphasized that the company is still not positioned for sustainable growth.
“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.”
Support for affected employees
Hyams concluded by expressing the company’s commitment to supporting those affected by the layoffs. Indeed, owned by Tokyo-based staffing giant Recruit Holdings, aims to provide as much assistance as possible to the departing employees.
The announcement marks Indeed’s second significant round of layoffs in two years, reflecting ongoing efforts to streamline operations and position the company for future growth.
