My logic is that Indeed must have access to very high quality and recent data about the US labor market. Everyone else speculating about the economy uses government data that is highly aggregated and reported months after the fact. Also they had a reputation for being a nice worker friendly company unlike big tech. So if they are doing layoffs then the economy must have truly started to go down a cliff, not just the bay area tech bubble. It must have started to spread to the main economy. Agree?
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What is driving the decline in Tech Jobs?
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What happens when most of your team is Indian?
Indeed is a shit show. They don't have any good data on the labor market, all the data is broken. Indeed just went on a massive hiring spree last year, with all of engineering trying to figure out how to do as many interviews as possible, and then it turned out that the post-COVID hiring rebound didn't last long.
Is there any hope of fixing or cleaning the data?
Not engineering but still in R&D last year at one point I was averaging 3-4 interviews a week. I never understood why. My manager/director wanted to hire a manager in between us but then the freeze started. There are just so many layers of unnecessary management. As well as two orgs that we’re doing practically duplicate work.
If you are in tech, we have been in one for months. Indeed is a tech company - it always has been so your assessment is off a bit.
They make their money off of company’s job postings. With companies hiring less, if at all, it makes sense that their profit margins aren’t where they expected them to be and they’re now restructuring to improve those margins. I’m not sure if it’s that the economy is just now going off a cliff as opposed to things have been bad for a while now and there’s not any improvement in sight.
You lost me after you said indeed has high quality data lol. Have you tried using their site? They are speculating like everyone else.
I have used their site and its fine, not sure what you mean.
> Indeed must have access to very high quality and recent data about the US labor market. 😂 😂 😂
Y’all if indeed had high quality data we wouldn’t have over hired last year nor would we have two entire orgs doing the exact same thing.
As 2 orgs competing to launch the same product?
Which orgs?
Coming from a xIndeed, it’s a shit show
Indeed overhired and wanted to get rid of excess workers nothing more. Blue collar industry is pretty hot so I really don't think they were hurting for cash too much probably wanted to hop on the layoff train before their window closed.
Close but no cigar
Public Info: Revenue from our segment (Indeed, Glassdoor, a handful of other companies) for our parent company stagnated YoY. Major US banks are predicting a slowdown in the job market (in aggregate) over the next couple of years, similar to what tech has seen (driven by higher cost of loans), except most industries aren't nearly as Leveraged or Debt-driven as tech has been.
My partner used to work for Indeed back in the Austin days. The company legit was super bloated and layers of unnecessary management. Engineers came at noon for free lunch then chilled and ping pong then did some work and left before the sun set. There are a number of brilliant and hardworking individuals there but those weren’t would face tough times in the job markets competing with talents who’re 10x agile sharp hardworking and relentless.
A lot of middle management got cut this time around, and even though it was a strategic cut in jobs, I saw some of the more egregious coasters let go as well. Indeed is not hurting, it just doesn’t have the explosive growth it saw during the pandemic, so they are cutting costs aggressively and expecting a contraction or anemic 1-2 years before things pick up again.
I feel like indeed is just another tech. Nothing special. I might be wrong tho.
+1
Indeed