Stamford-Based Job Services Company Indeed Announces Layoffs

STAMFORD, CT — Indeed, one of the largest career services firms in the world, announced Wednesday it will lay off approximately 2,200 employees, or roughly 15 percent of the company's workforce.

Chief Executive Officer Chris Hyams sent a memo to employees on Wednesday alerting them of the layoffs. The message was later posted on Indeed's website.

Hyams said he was "heartbroken" to share the difficult decision, and noted the job market will continue to cool following "the recent post-COVID boom."

"With future job openings at or below pre-pandemic levels, our organization is simply too big for what lies ahead. We need clarity, focus, and urgency to ensure that all of our energy is directed towards investing in our future," Hyams said in his memo. "We have held out longer than many other companies, but the revenue trends are undeniable. So I have decided to act now. I take sole accountability for where we are today. I am deeply and profoundly sorry."

According to their website, Indeed has roughly 14,600 global employees, with its largest offices in Stamford and Austin, Texas.

The company also has offices in New York, N.Y., San Francisco, Calif., San Mateo, Calif., and Seattle, Wash. Outside of the US, Indeed has offices located in Amsterdam, Dublin, Düsseldorf, Hyderabad, London, Paris, Sydney, Tokyo, Zürich and Toronto.

"The cuts come from nearly every team, function, level and region at Indeed and Indeed Flex [app]," said Hyams, who will be taking a 25 percent cut in base pay.

It's unclear how many layoffs will be made at the Stamford office. A company spokesperson told Hearst Connecticut Media there won't be any further comment. Hearst noted that as of last year, about 1,100 employees were based in Stamford's Indeed offices, located at 177 Broad St.

Affected employees were notified beginning Wednesday about the layoffs and their severance packages.

Employees will receive 16 weeks of base pay, four months of COBRA (US only), accrued PTO (where applicable), access to ongoing career placement services for six months, and access to ongoing mental health services for a year.

"We will continue to accelerate our strategy of getting closer to the hire, we will deliver more value to employers through pay for performance, and we will make it even simpler and faster for everyone to get hired," Hyams said. "While we’re facing challenging times ahead, I am confident that we will manage through it, and we will come out stronger on the other side."

Read more from Hearst