Job search site Ziprecruiter announced on Wednesday that it will be laying off 20% of its workforce, or 270 employees. The layoffs come as the company faces a slowdown in hiring and a decline in revenue.
In a statement, Ziprecruiter CEO Ian Siegel said that the layoffs were “a difficult decision, but one that we believe is necessary to ensure the long-term health of our business.” He added that the company is “committed to providing severance packages and outplacement services to all affected employees.”
The layoffs will affect employees across all levels and functions at Ziprecruiter. The company said that it will be prioritizing employees with the most seniority and those who are most critical to its core business functions.
The layoffs come at a time when the tech industry is facing a number of challenges. The Federal Reserve is raising interest rates in an effort to combat inflation, which is putting pressure on businesses to slow their hiring. In addition, the war in Ukraine and the ongoing COVID-19 pandemic are also creating uncertainty for businesses.
Ziprecruiter is not the only tech company that has announced layoffs in recent months. Other companies that have announced layoffs include Meta, Twitter, Netflix, and Spotify.
The layoffs in the tech industry are a sign that the industry is facing a period of uncertainty. It remains to be seen how long the layoffs will last and how they will impact the industry as a whole.
Recent Layoffs at Dice and Indeed
In addition to Ziprecruiter, other job search sites have also announced layoffs in recent months. In March, Dice, a job board for technology professionals, laid off 10% of its workforce, or about 100 employees. And in April, Indeed, a global job search engine, laid off 4% of its workforce, or about 400 employees.
The layoffs at Dice, Indeed, and Ziprecruiter are a sign that the job search industry is facing challenges. The industry is being impacted by the same factors that are impacting the tech industry as a whole, including rising interest rates, the war in Ukraine, and the ongoing COVID-19 pandemic.
It remains to be seen how long the challenges facing the job search industry will last. However, it is clear that the industry is undergoing a period of change.