Indeed, a U.S.-based job search platform, announced on Wednesday that it would cut down about 2,200 jobs, or 15% of its workforce. Indeed is one of many businesses that are downsizing their workforces as a result of a pandemic-driven hiring boom.
Future job openings were at or below pre-pandemic levels, according to Chief Executive Chris Hyams, who will take a 25% pay cut, and the corporation was too big.
Corporate America has begun cutting down employees at a rate not seen since the financial crisis more than ten years ago as it prepares for an economic collapse brought on by a global central bank’s aggressive rate hikes. The company’s blog stated that affected employees will get their regular salary for the month as well as the bonus for January through March.
According to the CEO of Human Resource Technologies, revenue will fall in the fiscal years 2023 and 2024, and in the following two to three years, job opportunities in the United States are expected to reach pre-pandemic levels of 7.5 million or even lower.
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