Indeed cuts 15% of workforce, 2200 jobs • Hacker News Board

Re: Indeed cuts 15% of workforce, 2200 jobs

#51

Post by orf » Thu, Mar 23, 2023, 6:14 AM UTC

cleverwebble wrote: post #47

orf wrote: post #33

Earlier quoted context omitted.

Yes I understand the rationale behind “lots of bodies”. As OP was rightly pointing out, there is a discrepancy here between output and size. LinkedIn for example has many of the same issues and a lot more complex functionality. They manage to do this, compete with Indeed (and have a higher market share), with a relatively small number more people.

LinkedIn doesn't have no where near the market share of job search / hiring in the US compared to Indeed. It's like, 2-3x less.

We are not talking about purely US market share, because the argument being made is that the headcount is required to compete globally.

Job board popularity varies greatly by country, but from the look of it LinkedIn has more of the global market share of Indeed.

My point is that unlike indeed they do this without jobs being the core, 100% thing they are dedicated to. Even if they are slightly behind in market share the point still stands that LinkedIn is clearly doing more with less.

Re: Indeed cuts 15% of workforce, 2200 jobs

#52

Post by icelancer » Thu, Mar 23, 2023, 6:32 AM UTC

jwilber wrote: post #48

DangitBobby wrote: post #45

Earlier quoted context omitted.

It's not completely meaningless.

When compared to the stress it causes for those impacted, I’m going to disagree and claim that it’s entirely meaningless. Given that most of his compensation comes from stock, losing a few 100k at most in salary is nothing.

What is something the CEO could say or pay cut he could take that would make these comments not appear in a HN thread?

Re: Indeed cuts 15% of workforce, 2200 jobs

#53

Post by expertentipp » Thu, Mar 23, 2023, 7:17 AM UTC

doktorhladnjak wrote: post #49

It’s so predictable even ChatGPT can write this drivel now Prompt: Write a press release for a company who is laying off 15% of its workforce. It’s in the voice of the ceo. Mention that they are accountable for this decision. —- Dear valued members of our community, It is with a heavy heart that I announce today that our company will be undergoing a significant workforce reduction. As a result of ongoing challenges i…

Oh yes baby, communicate it to me openly and transparently.

Re: Indeed cuts 15% of workforce, 2200 jobs

#54

Post by nunobrito » Thu, Mar 23, 2023, 7:54 AM UTC

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.

Yep. Quite rare to see this kind of accountability.

Re: Indeed cuts 15% of workforce, 2200 jobs

#55

Post by nihonjon » Thu, Mar 23, 2023, 7:59 AM UTC

The irony is that Indeed is not the best place to find work for those 2200 who lost their jobs.

Indeed used LinkedIn to hire me :3

Re: Indeed cuts 15% of workforce, 2200 jobs

#56

Post by Vespasian » Thu, Mar 23, 2023, 8:13 AM UTC

icelancer wrote: post #52

jwilber wrote: post #48

Earlier quoted context omitted.

When compared to the stress it causes for those impacted, I’m going to disagree and claim that it’s entirely meaningless. Given that most of his compensation comes from stock, losing a few 100k at most in salary is nothing.

What is something the CEO could say or pay cut he could take that would make these comments not appear in a HN thread?

Nothing most likely because the fact remains that the CEOs of these companies do never face the same existential crisis as many of their employees do when loosing their job.

They can (and many probably do) put a small amount of their income into conservative boring low yield investments and still be set for Life if everything else collapses. Maybe not with the yacht, prestige or power they hoped for but still more comfortable than most of the population.

The best a CEO can do is take responsibility by making a significant financial sacrifice and not bullshit their former employees on the way out. I think this letter does it as best as possible given the circumstances but it can't bridge the gap between them and most people.

CEOs chose to be in that position and I'm sure they can handle a little criticism from the internet

Re: Indeed cuts 15% of workforce, 2200 jobs

#57

Post by Aeolun » Thu, Mar 23, 2023, 8:38 AM UTC

I'm starting to feel like there is no way I can read any of these messages and feel like the CEO actually feels like they're responsible?

This is objectively a very good severance package, the CEO is taking a pay cut, and the tone is about as generic and non-confrontation as it can be, but I'm still dissatisfied. It still reads to me like a different variation of IDGAF.

There's just something about firing 2200 people, no matter the size of your company, that screams that you don't care. Like you didn't care in the first place. How do you accidentally hire 2200 people only to figure you need to get rid of them later? Don't hire them in the first place! It's just antithetical to how I imagine I would run any potential company.

Re: Indeed cuts 15% of workforce, 2200 jobs

#58

Post by rk06 » Thu, Mar 23, 2023, 9:45 AM UTC

expertentipp wrote: post #53

doktorhladnjak wrote: post #49

It’s so predictable even ChatGPT can write this drivel now Prompt: Write a press release for a company who is laying off 15% of its workforce. It’s in the voice of the ceo. Mention that they are accountable for this decision. —- Dear valued members of our community, It is with a heavy heart that I announce today that our company will be undergoing a significant workforce reduction. As a result of ongoing challenges i…

Oh yes baby, communicate it to me openly and transparently.

I hate the word transparently. It can mean one of two things:

1. Crystal clear: like you can see through a crystal and can identify any defect or impurity present

2. Invisible: like air is transparent. You can't see air. Can't see the nitrogen, oxygen, PPM, bacteria, germs, CO2, methane etc. It is there, it is transparent, even though you don't want it to be.

Instead I prefer terms crystal clear for first and opaque for second

Re: Indeed cuts 15% of workforce, 2200 jobs

#59

Post by expertentipp » Thu, Mar 23, 2023, 11:54 AM UTC

rk06 wrote: post #58

expertentipp wrote: post #53

Earlier quoted context omitted.

Oh yes baby, communicate it to me openly and transparently.

I hate the word transparently. It can mean one of two things: 1. Crystal clear: like you can see through a crystal and can identify any defect or impurity present 2. Invisible: like air is transparent. You can't see air. Can't see the nitrogen, oxygen, PPM, bacteria, germs, CO2, methane etc. It is there, it is transparent, even though you don't want it to be. Instead I prefer terms crystal clear for first and opaque…

Thank you for your input, Bob.

Re: Indeed cuts 15% of workforce, 2200 jobs

#60

Post by roflyear » Thu, Mar 23, 2023, 1:04 PM UTC

s1artibartfast wrote: post #46

roflyear wrote: post #40

Earlier quoted context omitted.

Higher stock value helps companies achieve things. See GME

For most companies stock value is meaningless in terms of achieving things. It doesn't put more money in their pocket to pursue development unless they do additional stock offering, which is very unusual for a mature company.

That's not true: from my understanding equity compensation plans fit in here, and that's the vast majority of companies (or really nearly all of them, at least for executive staff).