Will recruiting tech come on top?
How do you think LinkedIn, Indeed, Glassdoor do with upcoming tech bloodbath? On the one hand we’ve all had insane growth and profits thanks to hot job market last 2 years. None have laid off and continue to hire, promote and give pay raises. On the other hand, if layoffs happen will employers still pay for ads? At the same time mass influx of unemployed job seekers on platform so does that mean more money??
The job seekers aren't the ones paying their bills. It won't matter if the whole world is on LinkedIn if nobody is hiring.
LinkedIn laid off like 10% of its workforce (mainly sales I think) during the pandemic. It’s also not backfilling most roles right now. So, it seems to be in a pretty good place, fiscally, thanks to these sober actions. LI will weather a year of recession, but if it lasts longer, there will be blood.
Uuuh layoffs already happened
Also not sure about Glassdoor tbh. While I loved using it a couple years ago, its UI is really inconvenient and a lot of data is kinda stale. H1b info and levels fyi is the new glassdoor.
Levels data, and filtering, for non tech roles is terrible. Best data will come Jan 1 when CA companies have to start listing salary bands for openings
Indeed closed half of open roles in August, asked employees to take voluntary severance in September, and put a hiring freeze in October. We have 15K employees for what should be a 5K employee company. Lots of politics and empire building will prevent trimming down to 5K, so guess what will happen in the meantime. Contractors and recruiters will likely get the axe soon.
Wait severance? There were layoffs?
How are you guys so much bigger than us? We have 1K employees
The money comes from employers, not job seekers. If companies stop hiring, this sector will be hit hard. LinkedIn and Indeed don't make money from job seekers
Yes they do, stick to food delivery
The small percentage that pay for premium services and think INMAIL is truly the way to land a job, sure, but the vast majority of their money is made from employer tools and listings, and in the case of LinkedIn, ads