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Indeed to Lay Off 1,000 Employees in Strategic Move to Simplify Operations
May 14, 2024
Indeed, the career site, announced the layoff of approximately 1,000 employees, constituting about 8% of its U.S. workforce. This decision, conveyed through a letter from CEO Chris Hyams, primarily affects the Research & Development and Go-to-Market teams. Unlike last year's 15% staff reduction driven by cost savings, the current layoffs aim to simplify the organization for better decision-making and revenue growth. Hyams emphasized the company's collaboration with HR and DEIB+ teams to ensure equitable and objective decision-making, noting no disproportionate impact on women, under-represented genders, or minorities. Impacted employees will receive enhanced separation packages, reflecting the company's effort to support them during this transition.

Austin, TX (May 14, 2024) — Leading career site Indeed has announced a substantial workforce reduction, letting go of approximately 1,000 employees, which constitutes about 8% of its U.S. workforce. This decision was communicated through a letter from CEO Chris Hyams to employees on Monday, outlining the strategic reasons behind the layoffs and the company's future direction.

The impacted positions are primarily within the Research & Development (R&D) and Go-to-Market teams. This move follows last year’s reduction of 15% of Indeed's staff, which was driven by a post-COVID decline in job openings. However, Hyams emphasized that the current layoffs are not driven by cost-saving measures but rather by the need to simplify the organization's structure.

"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," Hyams explained in the letter. He acknowledged the significant impact these decisions have on employees' lives and took responsibility for the company's current situation.

Indeed has been working diligently with HR, legal, and diversity, equity, inclusion, and belonging (DEIB+) teams to ensure the layoffs are conducted fairly and objectively. Hyams assured that the decision-making process did not disproportionately affect women, under-represented genders, or minorities in the U.S. The company has also improved its separation packages for the affected employees, reflecting a commitment to supporting them during this transition.

This restructuring effort is part of Indeed’s broader strategy to enhance operational efficiency and position itself for sustainable growth. "While the global economy has improved in several areas over the past year, we are not yet set up for sustainable growth," Hyams noted. "Despite our efforts so far, our organization is still too complex, with significant duplication of effort and too many organizational layers that slow down decision-making."

Hyams concluded by expressing confidence that these changes are necessary for Indeed to navigate future challenges and opportunities successfully. The company aims to create a more streamlined and agile organization capable of faster decision-making and more effective revenue generation.

Indeed's decision reflects a broader trend among tech companies striving to balance efficiency and growth in a rapidly changing economic landscape. As the company navigates this transition, the industry will be watching closely to see how these changes impact its performance and employee morale.

About Indeed:

Indeed is a leading career site that helps people find jobs and companies hire talent. The company operates globally, connecting millions of job seekers with employment opportunities across various industries. With a focus on innovation and user experience, Indeed continues to be a major player in the job market landscape.

For further information, visit Indeed's website.
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