JOBS WEBSITE INDEED is to cut 2,200 jobs worldwide, around 15% of its global workforce.
The company, which employs over 1,000 people in Ireland, has not yet announced how many of its Irish staff will be affected by the layoffs.
In a message to staff today, CEO Chris Hyams said the cuts will come from “nearly every team, function, level and region” at the company.
“I know that waiting to find out what this means for you is very stressful… Within the hour, everyone outside of the UK, Ireland, the Netherlands and Japan will receive an email informing you of your status,” he wrote.
“In the UK, Ireland, the Netherlands and Japan, unfortunately, local regulations will mean a longer wait. We will communicate with all of you today to outline the specifics in your region.”
Hyams said the company has been hit with declining revenues due to a cooling job market “after the recent post-Covid boom”.
“It is becoming increasingly likely that HR Tech revenue will decline in 2023 and potentially again in 2024… In the US, we are expecting job openings will likely decrease to pre-pandemic levels of about 7.5 million, or even lower over the next two to three years.
“With future job openings at or below pre-pandemic levels, our organization is simply too big for what lies ahead.”
Hyams said he will take a 25% pay cut in base pay and that he will outline what additional cost saving measures the company will be taking tomorrow.
“I take sole accountability for where we are today. I am deeply and profoundly sorry.”
Earlier this week, Amazon announced it was cutting a further 9,000 jobs from its global workforce on top of 18,000 layoffs announced in January.
Meta also announced that it was cutting an additional 10,000 jobs from its workforce last week.
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