From the CEO, the cuts were not performance-based. It was based on strategic alignment. Basically, if you were in a team that was deemed not strategic, you were let go. Layoffs by Department HR: More than 50% was eliminated. More than 70% of Talent Attraction was fired. Indeed will be not hiring much in the coming years. Strategic hiring to continue. R&D: Major cuts to middle management. The goal was to flatten the organization. Reducing duplication of effort was the idea. Singapore development center will be closed. More than 90% of the team in Singapore has been let go. Only one team will remain in Singapore, the Singapore office will be shut down, and the team which remains there will be completely remote. Manual QA: Completely eliminated. Only one team remains in Japan. Indeed to move away from manual QA to automated QA. Indeed Incubator: Major cuts to the team. Indeed Research: Disbanded. Some members will move within Indeed. Sales Global Learning Enablement Team - 50% cuts here. No major cuts in Sales and Customer Service. Maintaining Revenue is a top priority. For UK, NL, JP, and Ireland, cuts have been decided yet. As per labor law, the layoffs will follow. Glassdoor ~ 15% were let go as well. Update for performance bonus : Non-sales Bonus : The bonus will be tied to Indeed's revenue from now. Nothing else changes for now. Other Cost-Saving Measures: WFH Bonus will be removed. ~180$ a month for me. Reduce software expenses. Indeed is rescinding nearly all offers. New hire offers will be honored in Japan. No new university hiring for now. Free breakfast was gone. Food options to reduce. Indeed will close 3 offices in Austin. Everything will be consolidated in Indeed Tower. The Sunnyvale and DC offices will be closed. Floor reduction in Seattle. Offices will be closed in the EU and APAC too. Voluntary Severance was announced too. #layoffs #indeed
That’s pretty radical
thumbs up for details
how is indeed making money?
Evidently not
Companies who pay for job ads. 2022 revenue was 8.2 billion $, this year target is 7.2$ billion. If it falls to 6.2$ billion dollars, I think we will get no bonus.
Cuts to middle management is the way to go
I think there are articles out there that point at data which indicate otherwise. Senior managers are supposed to bring strategy to execution. What are directors doing? What are senior directors doing? What are VPs doing? I feel like they create a lot of extra work without a lot of measurable impact myself. Reorgs, for instance, take a long time to pay off. As necessary as they may be, I would say that after a reorg a company is much better off keeping tenured senior managers than it is keeping the leadership that got them into the state of needing a reorg in the first place. Sure, keeping new leadership that is still learning is easier because they are pliant enough for Senior leadership to work with and won't come with as much if any pushback and feedback no matter how ridiculous the ask. But that's not how power politics function in corps. Not to mention that getting the buy in of a senior manager is not always as easy as it is with less experienced employees. So if you're given the choice to save yourself or save a middle manager, as "middle leadership," there is not a lot of benefit to altruism. Sure, you will struggle without them in ways that you can't expect. But you can sweep it under the rug until you can figure it out and then you too can be a middle manager with a great title.
TLDR?
what’s the headcount from right before covid to now? is it still a lot more?
I estimate about 2000-2500 more
not bad prolly don’t don’t need more rounds
Wow great summary post
Yeah they're doing God's work there
Only good thing will be more closed to fully remote? Obviously the office expenses are huge.
50% HR gone. The other 50% decided who will go. Hunger games in full swing
That is not what happened, nobody knew below SVP. But now they will definitely work on the termination of their colleagues
Chyams made it clear PK was behind the cuts for HR.
That is intense
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Seems like indeed got nuked. And who still does manual QA?
Indeed
Indeed indeed does and indeed it was expected from indeed