On March 22, 2023, Indeed laid off 2,200 employees, representing 0.15% of its workforce. This significant reduction has impacted various departments across the company.
Headquartered in Austin, Indeed operates within the HR industry, providing job search and recruitment services. The layoffs reflect broader economic challenges affecting the tech sector.
Indeed decided to lay off 2,200 employees due to a cooling job market post-COVID and declining HR Tech revenue. The company also noted a significant decrease in job openings and sponsored job volumes.
"I am heartbroken to share that I have made the difficult decision to reduce our headcount through layoffs. This is a decision I truly hoped I’d never have to make." - Chris Hyams, CEO of Indeed
Chris Hyams' statement reflects the gravity of the situation and the emotional toll it has taken on leadership. The decision to lay off 2,200 employees was driven by a cooling job market post-COVID and declining HR Tech revenue. Indeed anticipates that job openings will continue to decrease, necessitating a leaner organization to navigate future market conditions.
The reduction of 2,200 employees at Indeed has significantly affected the company's operations, particularly in departments such as marketing, sales, and customer support. This downsizing has led to increased workloads for remaining staff and potential delays in service delivery.
In the broader HR tech industry, other companies like LinkedIn and Glassdoor have also announced layoffs recently, reflecting a sector-wide trend of cost-cutting measures in response to economic uncertainties.
The layoffs at Indeed signal a strategic shift towards a more streamlined and efficient operation, aiming to adapt to the evolving job market landscape.
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