Indeed has announced it will lay off about 8% of its staff, which equals about 1,000 employees. The employment company, which is co-headquartered in Austin, Texas, has made this decision just one year after it laid off 15% of its staff.
Indeed’s decision to further lay off its employees comes as many different companies seek ways to reorganize and restructure their businesses. These restructurings often result in job cuts.
The Decision To Lay Off Employees
Indeed’s CEO Chris Hyams announced the company’s decision to lay off 1,000 workers in a letter shared with employees this week.
According to Hyams’ letter, the layoffs are the result of the company trying to reorganize. Hyams hopes this restructuring will further enhance the company as a whole, helping it grow.
Positions and Regions Impacted
This letter also detailed who, exactly, at Indeed may be impacted by these upcoming layoffs. Though the job cuts do impact many different groups and positions in the company, Hyams has said that the layoffs are mainly focused on “R&D and some Go-to-Market teams.”
Meanwhile, many different regions will likely be affected by these layoffs, though most will occur in the U.S.
Job Cuts in the Bay Area
The Bay Area in California has seen many job layoffs in recent months as the tech industry is seemingly undergoing massive changes. These huge restructurings have led to many workers being let go.
According to a WARN notice filed by Indeed, about 87 workers in the company’s Bay Area office will be laid off.
Laying Off Many California Workers
In Hyams’ letter, the CEO also explained that many sales and CS roles in Foster City, California would be completely eliminated.
Currently, Indeed has offices in Foster City, San Francisco, San Mateo, and Mountain View in California. Thus far, it appears only the Foster City office has been severely affected by these layoffs.
Another Round of Job Cuts
This is just the latest round of layoffs at Indeed, as the employment company laid off about 15% of its entire workforce last year, around this time.
Last year, the company explained they had to let some of their workers go because there weren’t as many job openings following the COVID-19 job boom.
A New Reason to Lay Off Employees
Now, Hyams and the company are saying that these most recent job cuts are happening for a completely different reason. Last year’s layoffs had to do with trying to save money.
Indeed has explained that these layoffs are occurring “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.”
The Process of Making This Move
Hyams’ letter also further explained that Indeed ensured they made these layoff decisions with help from various parts of their company.
Indeed “worked closely with the HR, Legal, and DEIB+ 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 US.”
Hyams Takes Responsibility
In his letter, Hyams started by completely taking responsibility for having to make the hard decision to lay off 1,000 workers in yet an additional round of job cuts.
Hyams further explained that he’s well aware these decisions to let people go will greatly affect their lives.
Indeed’s Next Steps
According to the company, the workers who have been laid off should have already been notified. These workers will also have been given separation package information.
Hyams has stated that these packages have been increased in the past year to better help those who have been let go from the company.
Connecting With Employees
Indeed will also have an internal town hall this week to connect with employees and help them understand their new organizational chart for the company.
Many companies, in a variety of different industries, have chosen to restructure and reorganize their workforce in various ways as they try to cut costs. Indeed is simply the latest. However, as this latest round of job cuts comes one year after other layoffs, this could be a sign that the employment company is struggling to find profit in a post-COVID world.
Other Companies Laying Off Workers
Various other companies have made the decision to lay off their workers. Tesla has laid off many workers in different rounds of job cuts this year.
Many massive tech companies have also laid off employees in 2024, following 2023’s difficult year that also saw many job cuts.
