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Indeed cuts 15% of workforce, 2200 jobs

indeed.com

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Re: Indeed cuts 15% of workforce, 2200 jobs

#21

Post by Ancalagon »

esel2k wrote: post #17
pokey96 wrote: post #12

Indeedian here, thankful to not have been in the 2200. Was a bit chaotic this morning, it doesn't seem like there was any clear pattern to who got layed off. Managers were given no advance notice for this either, know our manager was trying this morning to figure out over Slack who was affected by asking everyone.

If managers didn’t know, how was the decision taken? I am a manager (not indeed but other company just doing layoffs) here and I received a first estimate of my boss and I adjust when I will let go whom (based on business needs).

Indicates this layoff is probably actually cost-cutting necessity, given it had to be done immediately with no regard to performance.

Re: Indeed cuts 15% of workforce, 2200 jobs

#22

Post by Vespasian »

BrentOzar wrote: post #3

> I take sole accountability for where we are today. I am deeply and profoundly sorry. I will be taking a 25% cut in base pay. Additionally, more than 75% of my total compensation is directly tied to Indeed revenue growth, and is at risk given current trends. That’s how you tell people you’re accountable.

Maybe I'm imagining it but this letter seems a lot more direct than the other ones.

"People loosing jobs" instead of "Puffys getting the opportunity to move on.".

Also their yes/no mail has a clear title and they lay down policy that fired people get to use slack for a few days to "say goodbye to friends" etc.

Not great obviously (it's still kicking them out) but at least they are not adding insult to injury.

Re: Indeed cuts 15% of workforce, 2200 jobs

#23

Post by jkl5xx »

Ancalagon wrote: post #21
esel2k wrote: post #17

Earlier quoted context omitted.

If managers didn’t know, how was the decision taken? I am a manager (not indeed but other company just doing layoffs) here and I received a first estimate of my boss and I adjust when I will let go whom (based on business needs).

Indicates this layoff is probably actually cost-cutting necessity, given it had to be done immediately with no regard to performance.

there were definite patterns. Certain orgs, roles, and offices seem to have been more heavily affected than others

Re: Indeed cuts 15% of workforce, 2200 jobs

#26

Post by imwithstoopid »

icedchai wrote: post #9
paulpauper wrote: post #2

That is pretty ironic, I guess. Like firetruck catching fire or ambulance getting in an accident. 2,200 people go. This is roughly 15% of our team. Why does such a company need 15k employees to begin with? That seems like too many for a site that does not produce anything tangible. Coding, support, marketing, sales, etc. does it really add up to 15K?

You probably underestimate the marketing, sales, and support aspects. Also, there are no doubt a ton of spam/scam jobs being posted constantly. I'm not saying it adds up to 15K, just more than you or I would think...

sorry I'm with the parent poster on this one - Indeed was bloated

Re: Indeed cuts 15% of workforce, 2200 jobs

#27

Post by fzeroracer »

Mizoguchi wrote: post #25

How come Indeed has so many employees? 15K doing what? SpaceX is sending people to orbit on reusable rockets that can land on a moving platform on the ocean, with 4K less people. How is this even possible? Are most of Indeed employees sales reps?

SpaceX is a company with all of it's employees and testing in one geographical location.

Indeed is a global company spanning multiple languages and governments. This requires creating, designing and specializing for multiple languages and sensibilities. JP Indeed has additional integration with LINE. It's hyper specific to Japan but that integration is required for success. Multiply that by a few factors for operating in each region, having dev groups for each region, understanding and operating within the law within each region...

I always see these kind of comments to be remarkably ignorant because operating on a global scale requires a global workforce.

Re: Indeed cuts 15% of workforce, 2200 jobs

#28

Post by orf »

fzeroracer wrote: post #27
Mizoguchi wrote: post #25

How come Indeed has so many employees? 15K doing what? SpaceX is sending people to orbit on reusable rockets that can land on a moving platform on the ocean, with 4K less people. How is this even possible? Are most of Indeed employees sales reps?

SpaceX is a company with all of it's employees and testing in one geographical location. Indeed is a global company spanning multiple languages and governments. This requires creating, designing and specializing for multiple languages and sensibilities. JP Indeed has additional integration with LINE. It's hyper specific to Japan but that integration is required for success. Multiply that by a few factors for operatin…

Even with the 60 or so countries listed here (https://www.indeed.com/m/countries), that’s ~230 employees per country.

Still seems way to high, especially given the uneven size of some of the job markets in those listed countries.

Re: Indeed cuts 15% of workforce, 2200 jobs

#29

Post by zdbrandon »

s1artibartfast wrote: post #20
SamuelAdams wrote: post #19

Earlier quoted context omitted.

To be fair, stock prices typically go up after layoffs are announced. So it’s not like he is losing money.

stock proce isnt revenue growth. IF comp is tied to revenue, it doesn't matter if the stock goes to the moon. The stock goes up because investors think that revenue will go up if they pay fewer salaries.

Profits, not revenue. But the point remains.

Re: Indeed cuts 15% of workforce, 2200 jobs

#30

Post by arroz »

icedchai wrote: post #9
paulpauper wrote: post #2

That is pretty ironic, I guess. Like firetruck catching fire or ambulance getting in an accident. 2,200 people go. This is roughly 15% of our team. Why does such a company need 15k employees to begin with? That seems like too many for a site that does not produce anything tangible. Coding, support, marketing, sales, etc. does it really add up to 15K?

You probably underestimate the marketing, sales, and support aspects. Also, there are no doubt a ton of spam/scam jobs being posted constantly. I'm not saying it adds up to 15K, just more than you or I would think...

Nope, it’s too much, doesn’t make sense
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