Forums
New posts
Search forums
What's new
New posts
New media
New media comments
Latest activity
Classifieds
Media
New media
New comments
Search media
Log in
Register
What's New?
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Navigation
Install the app
Install
More Options
Advertise with us
Contact Us
Close Menu
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Forums
The Water Cooler
General Discussion
Tech Layoffs Coming Tidal Wave - The Tracker
Search titles only
By:
Reply to Thread
This site may earn a commission from merchant affiliate links, including eBay, Amazon, and others.
Message
<blockquote data-quote="SlugSlinger" data-source="post: 3996555" data-attributes="member: 7248"><p><h3>Job listing platform Indeed lays off 2,200 employees</h3><p><a href="https://www.okshooters.com/safari-reader%3A//techcrunch.com/author/amanda-silberling/" target="_blank">Amanda Silberling</a>1:21 PM CDT•March 22, 2023</p><p>At a company that helps people find jobs, 2,200 employees will now have to embark on a job search of their own. <a href="https://www.indeed.com/" target="_blank">Indeed</a> laid off 15% of employees today, CEO Chris Hyams announced in an all-hands meeting.</p><p></p><p>In a <a href="https://www.indeed.com/press/releases/a-message-from-our-ceo-chris-hyams" target="_blank">blog post</a>, Hyams elaborated on the decision by explaining that the job market is expected to continue to cool down. Indeed makes its money by allowing companies to sponsor job listings, which shows the listing to more job seekers. But Hyams said that as of last quarter, sponsored job volumes were down 33% year over year, and total job openings were down 3.5%.</p><p></p><p>“With future job openings at or below pre-pandemic levels, our organization is simply too big for what lies ahead,” Hyams wrote. “We have held out longer than many other companies, but the revenue trends are undeniable. So I have decided to act now.”</p><p></p><p>The CEO will take a 25% cut in base pay himself.</p><p></p><p>Employees were emailed about their job status within an hour of the announcement — the subject lines of these emails either read “Your Position Has Been Impacted” or “Your Position Has Not Been Impacted.” Employees in the U.K., Ireland, the Netherlands and Japan may still be in limbo, due to local regulations.</p><p></p><p>Indeed is offering at least 16 weeks of base salary pay, compensation for accrued PTO, a cash payout for RSUs that haven’t vested and access to career placement and mental health services. U.S. employees are eligible for four months of health insurance via COBRA. They can also keep their work laptop, which will be immediately disconnected from Indeed business systems; but Slack, email and Workday access won’t be immediately impacted, so people can say bye to colleagues and remove personal materials from their laptops, which will be reset remotely.</p><p></p><p>Hyams wrote that these cuts are impacting nearly every team, at every function, level and region. The company consulted HR, legal and DEIB+ teams to ensure that the layoffs did not disproportionately impact underrepresented minorities in the U.S.</p></blockquote><p></p>
[QUOTE="SlugSlinger, post: 3996555, member: 7248"] [HEADING=2]Job listing platform Indeed lays off 2,200 employees[/HEADING] [URL='https://www.okshooters.com/safari-reader%3A//techcrunch.com/author/amanda-silberling/']Amanda Silberling[/URL]1:21 PM CDT•March 22, 2023 At a company that helps people find jobs, 2,200 employees will now have to embark on a job search of their own. [URL='https://www.indeed.com/']Indeed[/URL] laid off 15% of employees today, CEO Chris Hyams announced in an all-hands meeting. In a [URL='https://www.indeed.com/press/releases/a-message-from-our-ceo-chris-hyams']blog post[/URL], Hyams elaborated on the decision by explaining that the job market is expected to continue to cool down. Indeed makes its money by allowing companies to sponsor job listings, which shows the listing to more job seekers. But Hyams said that as of last quarter, sponsored job volumes were down 33% year over year, and total job openings were down 3.5%. “With future job openings at or below pre-pandemic levels, our organization is simply too big for what lies ahead,” Hyams wrote. “We have held out longer than many other companies, but the revenue trends are undeniable. So I have decided to act now.” The CEO will take a 25% cut in base pay himself. Employees were emailed about their job status within an hour of the announcement — the subject lines of these emails either read “Your Position Has Been Impacted” or “Your Position Has Not Been Impacted.” Employees in the U.K., Ireland, the Netherlands and Japan may still be in limbo, due to local regulations. Indeed is offering at least 16 weeks of base salary pay, compensation for accrued PTO, a cash payout for RSUs that haven’t vested and access to career placement and mental health services. U.S. employees are eligible for four months of health insurance via COBRA. They can also keep their work laptop, which will be immediately disconnected from Indeed business systems; but Slack, email and Workday access won’t be immediately impacted, so people can say bye to colleagues and remove personal materials from their laptops, which will be reset remotely. Hyams wrote that these cuts are impacting nearly every team, at every function, level and region. The company consulted HR, legal and DEIB+ teams to ensure that the layoffs did not disproportionately impact underrepresented minorities in the U.S. [/QUOTE]
Insert Quotes…
Verification
Post Reply
Forums
The Water Cooler
General Discussion
Tech Layoffs Coming Tidal Wave - The Tracker
Search titles only
By:
Top
Bottom