Job board Indeed lays off 2,200 employees
On the job platform Indeed, which helps other people to find a job, 2,200 employees now have to look for a new job themselves. As Indeed CEO Chris Hyams announced at a staff meeting, the company has laid off 15 percent of its workforce.
The wave of layoffs in the digital industry never ends. Chris Hyams, head of the online job exchange Indeed, announced at a staff meeting that the company intends to lay off around 2,200 employees. It also comes from one official statement from Hyams.
Accordingly, the job cuts correspond to around 15 percent of the entire workforce. Indeed justifies the decision with an expected cooling of the job market. Accordingly, the sponsored job advertisements on the job exchange fell by 33 percent in the fourth quarter of 2022.
Mass layoffs: Indeed cuts 2,200 jobs
In addition, the total number of vacancies fell by 3.5 percent compared to the previous year. For Indeed, these are devastating numbers, because the company makes most of its money from sponsored job ads. Chris Hymans explained:
With future job openings at or below pre-pandemic levels, our organization is simply too big for what lies ahead.
According to Indeed, all affected employees were informed of their dismissal by email one hour after the announcement. The corresponding subject line either said: “Your position is affected” or: “Your position is not affected”.
Chris Hyams wants to forego 25 percent salary
Indeed boss Chris Hyams announced that he wanted to forego 25 percent of his base salary in the future. All employees affected by the layoffs would also continue to receive their base salary for 16 weeks. US employees would in turn have an additional four-month health insurance entitlement.
They could also keep their work laptops. According to Hyams, the job cuts affect almost all teams, all levels and all regions. To ensure that the layoffs would not have a disproportionate impact on minorities, the company had previously consulted internally.
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