Online job board Indeed is laying off 8% of its staff

Indeed is trimming its workforce again, as the job site looks to improve efficiency and boost revenues.

CEO Chris Hyams said in a message to employees published Monday that the company will be reducing its headcount by 1,000 people, or approximately 8% of its staff. The cuts are mostly concentrated in the U.S., particularly in the research and development team, some Go-to-Market teams, and most of the sales and customer service roles in Foster City, California, he wrote.

This round of layoffs is different from the 15% staff reduction the Austin, Texas-based company carried out in March 2023, which affected “nearly every team, function, level and region,” the company said at the time. Those cuts were driven by cost savings to help bring the company back to profitability after several consecutive quarters of revenue loss as a result of a global slowdown in hiring, Hyams said.

While last year’s layoffs helped the company get out of the red, this latest move is focused on simplifying the organization to set itself up for continued growth beyond what Hyams called “stable profitability.”

“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,” Hyams wrote. “We have been working to simplify every aspect of our business, but without meaningful change, we can’t get where we need to go.”

Hyams said that the “difficult” changes will allow the company to get to its goal of helping 100 million people get jobs by 2030.

Recruit Holdings, which counts Indeed and Glassdoor among its brands, saw year-over-year revenue drop in its HR technology sector by 17.2% on a U.S. dollar basis last quarter.

The company noted in February that “the supply and demand mismatch between job seekers and employers continued to ease, particularly in the U.S.” Still, total job postings on Indeed declined in the U.S. while job seeker activity Indeed and Glassdoor grew year over year.

Recruit is expected to report its fourth-quarter 2023 earnings on Wednesday.