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Indeed Considers Voluntary Redundancies As Job Cuts Continue

By Nithya Bose in Business News, posted June 6, 2024

Recruitment firm Indeed has adjusted its approach to the current round of job cuts, now considering employees' willingness to accept voluntary redundancy.

The Financial Services Union (FSU) has positively received this move, part of a global restructuring effort.

However, the union maintains the basic redundancy terms still need improvement.

Indeed, which employs over 1,200 people in Ireland, is seeking around 70 redundancies.

This follows 220 layoffs last year as part of a broader cost-cutting initiative.

CEO Chris Hyams said the latest job cuts are not due to financial difficulties.

He said the aim was to streamline the organization's structure and reduce duplication.

Around 175 employees at Indeed's Irish offices, which serve as the company’s Europe, Middle East, and Africa (EMEA) headquarters, have been informed that their positions are at risk.

"The small move by the company on voluntary redundancies is welcome, but we need to ensure this commitment is meaningful”

Despite these job cuts, Indeed Ireland Operations Limited reported profits of €783 million for the 15-month period ending March 31st of last year.

Initially, the company said performance would be the primary criterion for deciding layoffs.

However, it has been confirmed that employees' willingness to accept voluntary redundancy will also be a factor in the decision-making process.

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The FSU welcomed this update and noted that the required redundancies could likely be met voluntarily, as more than 70 employees expressed interest in a recent survey.

However, Gareth Murphy, the union’s head of industrial relations and campaigns, stressed the need for better redundancy terms.

Murphy said: "The small move by the company on voluntary redundancies is welcome, but we need to ensure this commitment is meaningful.”

He highlighted that workers are dissatisfied with the current offer, which includes a minimum of 16 weeks' pay plus statutory redundancy, with an additional week's pay for each year of service beyond five years.

Indeed said: "We have engaged in collective consultation with elected employee representatives and will continue to engage constructively, ensuring all concerns are fully considered.”

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