Indeed Layoff: The employing company itself has laid off, preparing to lay off 2200 employees
Indeed Layoff: America’s job search platform Indeed has announced the layoff of employees. The company is about to lay off its 2200 employees. This is equivalent to 15 percent of the company’s workforce. In this way, Indeed has also joined the list of companies that are laying off due to the fear of recession. Even before this, many big and small companies including Amazon, Microsoft, Ford, Boeing, and Facebook have been laid off recently. Explain that the companies had hired more people due to the increase in work during the epidemic, but after the normalcy of the situation, now the companies are facing losses.
What did the Chief Executive of Indeed say?
Chris Hyams, chief executive of job search platform Indeed, said that the pace of job openings in the future has come down to pre-pandemic levels and the company is suffering due to the high number of employees working in the company. The Chief Executive said that he himself is going to cut the basic salary by 25 percent.
Companies in the US have recently laid off on a large scale and this is still going on. Rates have been increased by central banks around the world, due to which fears of an economic recession are being expressed. Meta Platforms and Amazon have also announced second rounds of layoffs. Companies are taking this step to cut their costs.
What facilities will the dismissed employees get?
According to the company’s blog post, various types of help including bonuses will be given to the retrenched employees. The company says that as a severance package, many facilities including bonuses from January to March (three months), regular salary for the month, and mental health services will be given to the dismissed employees.
Chris Hyams said that Indeed’s revenue from human resources technology will decline in fiscal years 2023 and 2024. Hyams further said that this is the pre-pandemic level. Job openings in the US may fall to the pre-pandemic level of 7.5 million or even less in the next two to three years.
Frequently Asked Questions (FAQs):
Which is the best app for job search?
How do search for the best job in 2023?
Where is Indeed’s headquarters?
Who invested in Indeed?
MORE FOR YOU
