In the announcement, Indeed CEO Chris Hyams said the layoffs will mostly affect U.S. employees across different regions, but a company representative declined to comment on how Austin offices, including the global headquarters downtown, would be affected.
The reason
In March 2023, the company laid off 2,200 employees in an effort to cut costs.
Now, Hyams said the latest downsize is necessary to increase revenue and hires, and to simplify the organization.
"Last year we were facing a global slowdown in hiring, which led to multiple consecutive quarters of revenue loss," Hyams said in the announcement. "We reduced our headcount, instituted multiple cost-saving measures. ...These measures worked, and we are now operating with stable profitability. However, while the global economy has improved in several areas over the past year, we are not yet set up for sustainable growth."
The company moved more than 400 employees into its global co-headquarters inside the Indeed Tower in downtown Austin in August.
The details
According to the announcement, all affected employees were informed on May 13 and received separation packages.
Indeed will host a global town hall internally on May 14 to discuss the organization's overall structure.
Some context
Indeed's layoffs come in the midst of several cuts to Austin's technology workforce, including:
- 96 employees to be laid off from Microsoft-affiliated, Austin-based video game company Arkane Studios in July
- 2,688 Austin-area employees laid off from Tesla in April
- 139 employees laid off from Austin-based video production company Rooster Teeth in March and April
- 84 Austin-area employees laid off from travel planning website Expedia Group Inc. in February
- 92 employees laid off from Unity Technologies-Austin, a game development software company, in January
