Indeed layoffs: 2,200 employees lose jobs – Austin Business Journal – The Business Journals
Austin-based careers company Indeed laid off 15% of its global workforce — or about 2,200 people, according to a March 22 memo from CEO Chris Hyams. They were notified early in the day via email, and told that the termination was immediate — but they will be paid for several more weeks.
The move comes as the U.S. job market is cooling off, and Indeed has forecast more downward trends in the near future. In his memo, Hyams said it’s likely human resources tech businesses will see revenue decline throughout 2023 and potentially next year, too. He said U.S. job openings were down 3.5% year-over-year.
“With future job openings at or below pre-pandemic levels, our organization is simply too big for what lies ahead,” he wrote in the memo, which has since been posted publicly. “We need clarity, focus, and urgency to ensure that all of our energy is directed towards investing in our future. We have held out longer than many other companies, but the revenue trends are undeniable.”
It wasn’t…
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