Careers site Indeed to lay off 1,000 workers
The careers site Indeed will lay off about 1,000 employees, or 8% of its workforce.
In a memo, CEO Chris Hyams said the company is profitable, but not set up for sustainable growth.
He said the cuts are more targeted than last year's across-the-board reduction of 2,200 workers.
The careers site Indeed says it will lay off about 1,000 employees — about 8% of its workforce — as it looks to simplify its organization.
In a memo released publicly on Monday, CEO Chris Hyams took responsibility for "how we got here," adding that the company is not yet set up for growth after last year's global slowdown in hiring caused multiple quarters of declining sales.
Unlike last year's across-the-board reduction of 2,200 workers, Hyams said the latest cuts will be more concentrated in the US and primarily affect the research-and-development and go-to-market teams.
The decision is also aimed at reducing "too many organizational layers" at the company. That echoes Mark Zuckerberg's move last year, in which the CEO said that he sought to "flatten" Meta's organizational chart.
"We have been working to simplify every aspect of our business, but without meaningful change, we can't get where we need to go," Hyams said.
Hyams also said the company worked with its human-resources, legal, and diversity, equity, and inclusion teams to ensure that underrepresented groups were not disproportionately affected by the cuts.
The company will hold an internal town hall on Tuesday and provide an updated organizational chart on Wednesday, Hyams said.
Read the original article on Business Insider
