Indeed CEO Chris Hyams announced that the Job-search site with major Stamford offices will lay off 8 percent of its work force on May 13.
“Unlike last year, where our reduction was driven by cost savings, we are taking this action because we need to simplify our organization to make it easier and faster for us to make decisions, and help us to more effectively grow revenue and hires,” Hyams said in a letter to employees.
Indeed estimated that roughly 1,000 employees will be let go, primarily focused on the research and development and the Go-to-Market teams. Impacted employees are mostly in the United States.
According to Hyams, the need for the previous round of job cuts was precipitated by a global slowdown in hiring, while seeking to reduce duplication of effort and speed decision making drove the current decision.
Despite eliminating 1,000 jobs, Hyams said he is confident that the company is on track to grow sustainably and help 100 million people find employment by 2030.
