AUSTIN, Texas — Indeed, headquartered in Austin, announced another round of layoffs Monday.
According to a letter from CEO Chris Hyams, 1,000 people will be let go, which is about 8% of the company.
In the letter, Hyams took responsibility for how Indeed got to this point. He then said the company is still not set up for growth, despite an improved global economy.
“Despite our efforts so far, our organization is still too complex, we still have significant duplication of effort and too many organizational layers that slow down decision-making,” he said. “We have been working to simplify every aspect of our business, but without meaningful change, we can’t get where we need to go.”
While it’s unclear how many people in the Austin division of the company will be laid off, Hyams said Indeed will eliminate most of the sales roles in Foster City, California.
Indeed announced a round of layoffs last year in which 2,200 employees were let go. Those layoffs were attributed to a post-COVID job market. At the time of that announcement, Hyams said he would be taking a 25% cut in base pay and that 75% of his total compensation is tied to Indeed revenue growth.