Glassdoor, an employee rating website, has laid off 15% of its workforce
Glassdoor, a website for employer ratings, has announced that it will reduce its workforce by 15% due to changes in the larger economic landscape.
According to the official statement, the company attributed the job cuts to decreases in both revenue trends and retention rates.
Glassdoor CEO Christian Sutherland-Wong conveyed in a memo that despite the initial intention to avoid layoffs, it has become necessary to implement them. He expressed regret and sadness over the decision to reduce the workforce.
“We made it clear from the beginning that layoffs would be a final option, but regrettably, we have arrived at that juncture. I am saddened to announce that we will be downsizing our workforce,” stated Glassdoor CEO Christian Sutherland-Wong in a memo. The company is providing a minimum of 16 weeks of base pay, healthcare benefits for 4 months, and a full payout of the spring 2023 bonus to those who are departing as part of the support package. Sutherland-Wong added that the company will also aid with job searches.
He further added that, “This outcome is devastating, and please know that we made all attempts to control costs to avoid this. We paused hiring. We cut programme costs. We cut travel and events. Unfortunately, this was not enough.”
A company based in the United States offers its users the ability to submit and view salaries anonymously, as well as search and apply for jobs through its platform.
In May 2020, Glassdoor laid off approximately 300 employees. This represented 30% of the company’s workforce at the time, and half of its Chicago office.
Recruit Holdings, a Japanese multinational corporation, acquired Glassdoor in 2018 for $1.2 billion. Despite the acquisition, Glassdoor operates as an independent subsidiary.
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