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Workforce Reduction

Austin-based Indeed.com cutting about 1,000 jobs, or roughly 8% of its global workforce

May 14, 2024

Workforce Reduction

Austin-based Indeed.com cutting about 1,000 jobs, or roughly 8% of its global workforce

May 14, 2024

Photo by Vlad Busuioc on Unsplash

Austin-based Indeed.com is laying off about 1,000 people, or about 8% of the online job-search site's global workforce, CEO Chris Hyams announced in a letter to employees Monday.

Asked how the cuts might affect Indeed's Austin headcount, a spokesman said the company would not be commenting beyond Hyams' letter. Indeed.com — one of the city's largest tech firms — reported last summer that it employed 2,800 people in Austin, down about 100 employees from a year earlier. The company declined to provide an updated head count Monday.

"I am sad to share the news that we have made the difficult decision to reduce our headcount through a layoff," Hyams said in the letter. "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."

"As difficult as these changes are, our new structure will help us to simplify and work more effectively as one team, reignite growth in revenue, and drive toward our 2030 goal to help 100 million people get jobs."

In March 2023, Indeed announced it was cutting 2,200 jobs, or about 15% of its global workforce. The company, which makes money through sponsored job postings, cited a cooldown in the overall job market and demand for its technology.

For the latest round of job cuts, Hyams said, "While the reductions touch many groups and regions, they are not across the board like last year; rather they are mostly concentrated in the U.S. and are more focused on R&D (research and development) and some Go-to-Market teams."

Hyams said the company's leadership worked with its human resources, legal, and diversity, equity and inclusion teams "to ensure objectivity and equity in the decision-making process."

"The final selections have had no measurably disproportionate impact on women and under-represented genders or the under-represented minority population in the U.S.," Hyams said.

He added: "Within the hour, employees outside of Ireland, the UK, and Australia will hear whether or not you have been impacted by this decision. If you are impacted, your email will include a link to the details of your separation package, which will vary by region. Package amounts have been increased for most employees over last year, and include severance, healthcare payment where applicable, and outplacement services, among others."

Read full article here

Austin-based Indeed.com is laying off about 1,000 people, or about 8% of the online job-search site's global workforce.
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