Website for assessing employers Christian Sutherland-Wong, the CEO of Glassdoor, revealed that the company will lay off 140 people, or around 15% of its staff, due to the “shifting macroeconomic environment.” Sutherland-Wong stated in a message distributed to staff members that “we said that layoffs would be a last resort” from the beginning.
“Unfortunately, we have reached that point. It is with a heavy heart that I share that I have made the difficult decision to reduce our workforce. Today we are going to say goodbye to around 140 of our colleagues, who represent approximately 15 per cent of the Glassdoor team,” the CEO announced.
CEO of Glassdoor claimed cutting travel and events
A meeting invitation to meet with managers or team leads will be sent to anyone in the US whose positions are affected. According to the corporation, “EMEA employees will receive an invitation to either a UK or Ireland Town Hall meeting where we’ll share specific next steps for those markets.” “This outcome is devastating and please know that we made all attempts to control costs to avoid this” the CEO said.
Over the previous quarter, there had been a 33% decrease in US-sponsored jobs. Retention rates for aEmployer Branding clients also fell, according to the business. “It has become increasingly clear that this is just the beginning of a broader economic slowdown, as the job market cools after the post-Covid boom,” according to Sutherland-Wong.
Company reviews posted by the former employees
The affected employees will receive at least 16 weeks of base pay and 4 months of medical insurance as part of their severance package. Also, according to Glassdoor, they will get a Spring 2023 bonus in full and any earned commissions and spiffs. On the US website Glassdoor, present and former workers may post anonymous company reviews. It has further offices in Chicago, Dublin, London, and So Paulo and its headquarters in San Francisco, California. Together with job searching and application, Glassdoor also lets users submit and view wages anonymously.
The Japanese multinational Recruit Holdings purchased the business in 2018 for US$1.2 billion, and it is being run as a stand-alone subsidiary. Rich Barton, the creator of Expedia, served as the company’s chairman, along with Tim Besse, Robert Hohman, and Hohman as the company’s CEO. According to a 2014 New York Times article, Barton and Hohman brainstormed the concept after Barton told them about leaving the results of an employee survey on the printer by accident while working at Expedia. They then discussed what could have occurred had the findings been made public.