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In an ironic move, job portal Indeed fires thousands of employees
The CEO said he will take a 25 per cent cut in base pay. Additionally, more than 75 percent of "my total compensation is directly tied to Indeed revenue growth, and is at risk given current trends," he said.
Updated : Mar 23, 2023, 11:45 AM IST
 "Indeed")
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Following another round of firings from Meta, Google, Amazon and other tech giants, popular job portal has announced that it has laid off 2,200 employees, or 15 percent of its workforce. The job cut was announced by an 'heartbroken' Indeed CEO Chris Hyams in a blog post late on Wednesday in which he wrote, “We anticipate we will be letting approximately 2,200 people go. This is roughly 15 percent of our team. The specific decisions on who and where to cut were extremely difficult, but they were made with great care.”
"Leading a company whose mission is to help people get jobs, every single day I think about how important a job is in a person's life. Losing a job is extraordinarily hard, financially and emotionally," he added.
The CEO said he will take a 25 per cent cut in base pay. Additionally, more than 75 percent of "my total compensation is directly tied to Indeed revenue growth, and is at risk given current trends," he said.
The company will share information directly with everyone impacted and everyone outside of the UK, Ireland, the Netherlands and Japan will receive an email informing them of their status. If your position has been eliminated, the subject will be "Your Position Has Been Impacted." If your position has not been eliminated, the subject will be "Your Position Has Not Been Impacted." (with inputs from IANS)
