The job site Indeed announced Monday it is preparing to lay off approximately 1,000 employees, a move that will affect mostly American workers.
CEO Chris Hyams revealed the eight percent cut, Business Insider reported. The outlet said the CEO explained that the company is “not yet set up for growth after last year’s global slowdown in hiring caused multiple quarters of declining sales.”
According to Hyams, the layoffs will be focused in the United States, mostly among the research-and-development and go-to-market groups of workers.
In March 2023, KXAN reported Indeed was planning to lay off about 2,200 staffers:
Colin Pope of the Austin Business Journal told the outlet, “For Indeed in particular…they’re a jobs website, so they’re dependent on the job market, and it is getting softer.”
The Insider report said leadership is trying to cut down on “too many organizational layers” within the company — which is co-headquartered in Austin, Texas — as it moves toward simplifying.
The number of people across the United States applying for unemployment benefits hit its highest level in more than eight months recently, the Associated Press (AP) reported on Thursday.
The outlet said it could point to the labor market softening, adding, “Unemployment claims for the week ending May 4 rose by 22,000 to 231,000, up from 209,000 the week before, the Labor Department reported Thursday.”
“Though last week’s claims were the most since the final week of August 2023, it’s still a relatively low number of layoffs and not cause for concern,” the AP report said.
In March, Breitbart News reported that a survey found that tech industry layoffs and the rise of artificial intelligence (AI) were causing Americans to worry about job security.
“More than 72 percent of Americans making more than $150,000 fear losing their jobs to AI and other sources of economic insecurity, while even 50 percent of those making under $50,000 feel the same way,” the outlet said.
