Online employment firm Indeed plans to cut another 1,000 employees to streamline the organization about one year after the company's last big job reduction.
Indeed CEO Chris Hyams said in an online letter Monday the Austin, Texas-based company was eliminating about 8% of the company’s head count. Most of the job cuts would be in the United States, but a few layoffs would be made in Australia, Ireland and the United Kingdom, according to Hyams.
The cuts include Indeed's research and development arm, as well as what Hyams calls its “Go-To-Market” team. Hyams did not say whether the jobs would be eliminated immediate or staggered over time.
Last year, Indeed dismissed 2,200 employees in response to the global slowdown in hiring, ultimately resulting in “stable profitability," Hyams said in the letter.
“Unlike last year, where our reduction was driven by cost savings, we are taking this action because we need to simplify our organization,” Hyams said.
Indeed’s workforce still suffers from redundancy, he said.
“While the global economy has improved in several areas over the past year, we are not yet set up for sustainable growth. Despite our efforts so far, our organization is still too complex, we still have significant duplication of effort and too many organizational layers that slow down decision-making,” Hyams said. “We have been working to simplify every aspect of our business, but without meaningful change, we can’t get where we need to go.”
A representative for Indeed declined to comment beyond the letter Monday.
Job Cuts
Indeed plans to “significantly” restructure its research and development team “to align with our marketplace strategy” and also reduce “layers of management,” Hyams said in the letter.
The company’s “Go-To-Market” teams will be changed, and most sales positions at Indeed’s Foster City, California, office will be eliminated.
No other offices were individually mentioned.
Cutting 1,000 people and reorganizing the company, according to Hyams, would “reignite growth in revenue, and drive toward our 2030 goal to help 100 million people get jobs.”
He added that “across the business we are making additional changes to simplify decision-making and create clarity.”