Layoffs at a company that helps people with job search! Yes, you read that right. Indeed, an American worldwide employment website for job listings, has laid off 15% of its workforce, or around 2,200 employees, for whom March 22 – the day the layoffs were announced – also turned out to be the last working day.
In a blog post, a ‘heartbroken’ CEO Chris Hyams broke the news to the staff. “This is a decision I truly hoped I’d never have to make. Leading a company whose mission is to help people get jobs, every single day I think about how important a job is in a person’s life. Losing a job is extraordinarily hard, financially and emotionally. For those who will be leaving, we are working to bring as much support as possible to each of you,” wrote Hyams.
Who all are affected?
According to Hyams, the cuts have been made from nearly every department, function, level, and region, at both Indeed and Indeed Flex. The specific decision on who and where to cut, though ‘difficult,’ was made with ‘great care,’ he noted.
Those affected received an email with the subject line “Your Position Has Been Impacted.” People retained, on the other hand, received a mail with the subject line “Your Position Has Not Been Impacted.”
Those affected…
The standard severance package will have additions based on the role and location. Under the severance agreement, however, they will receive:
(1.) 16 weeks of base salary/2 weeks for every year of service (whichever is greater).
(2.) 4 months of Consolidated Omnibus Budget Reconciliation Act or COBRA (in the US only).
(3.) Accrued paid time off (wherever applicable).
(4.) A cash payout equivalent to restricted stock unit (RSU), scheduled to vest on May 1.
(5.) Access to ongoing career placement (for six months).
(6.) Access to ongoing mental health services (for twelve months).
