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This is week 34 of our reporting the long trend-line of layoffs that signal recession in a country near you. To illustrate the depth and range of the layoff trend we note that Recruit Holdings, owner of online job placement service Indeed, is laying off about 2,200 workers or about 15 percent of its staff.
The cuts will come across all levels, functions, and regions of the company.
“It is becoming increasingly likely that HR tech revenue will decline in the [current fiscal year] and potentially again in” the next, CEO Chris Hyams wrote in a memo to employees.
The number of open jobs in the U.S. has dropped sharply and that condition is likely to continue at least through 2025, he noted.
“With future job openings at or below pre-[COVID] levels, our organization is simply too big for what lies ahead,” he said.
Hyams is cutting his own pay by 25 percent, he told workers.
Recruit Holdings is the latest in a stream of tech companies to dump workers. Amazon, Meta, Microsoft, and Uber also have made sizable force reductions. Here are some of the latest:
- Woolworths – 51 in Australia
- Disney – 7,000
- Salesforce COO warns of more job cuts coming, they have already shrunk 10 percent losing 8,000 staff
- Bed Bath & Beyond NJ- 1,000
- Oracle has made minor cuts at health IT arm Cerner
- Accenture over the next 18 months (globally) – 19,000
- Capricorn to slash UK staff amid exit
- Roofstock – 27 percent, following a 20 percent reduction earlier this year
- Glassdoor – 140
- McKinsey & Co. – 1,400
- Hallmark Cards – Confirms 38 in Kansas
- CityHighPoint Digital – 65
- Retractable Technologies, Inc – 22 percent reduction
- Hollander Sleep and Decor – 100
- Overlake Medical Center – 30 in IT, Finance Dept..
- Rackspace Technology Inc – 275 globally
- iCad – 23
- Gamida – 17 percent of workforce
- And Digital (International) – up to 240
- NPR – 100
- DHL St Louis – 75
- Better Therapeutics – 15
- America’s Test Kitchen – 23
- Funko begins layoffs
- Security Industry Specialists Inc – 600
- Veeam – 200
- Nelnet – 550
- The CW – 15
- Silver Spring’s Aziyo Biologics – 12 percent reduction
- Seattle Public Schools – 74 central office positions
- Walmart facilities that fulfill e-commerce orders – 200
- Transdev Group in Raleigh NC – 265
- National Broadband Network – 500
- Logitech ( International ) – 300
- Downtown Music Holdings – New layoffs announced
- The Centinela Valley Union High School District Ca – Layoffs Likely
- Job Listings Giant Indeed – 15 percent, 2,200
- Expedia Group – < 100
- Marvell Technology – 320
- Rackspace Technology reports job cuts coming
- Hollander Sleep Products – 112
- Mankato Area Public Schools – Layoffs likely