Job posting site ZipRecruiter to cut 20% of global workforce, including at Israel R&D center
Job posting site ZipRecruiter to cut 20% of global workforce, including at Israel R&D center
Around 20-30 Israeli employees will be laid off by the U.S. company, which blamed market conditions for the decision
Job posting site ZipRecruiter is laying off 20% of its workforce, including at its R&D center in Israel. The U.S. company employs around 130 of its total 1,350 employees in Israel, meaning around 20-30 are set to be let go. ZipRecruiter, which has a market cap of around $1.5 billion on Nasdaq, said it will reduce its global headcount by approximately 270 employees.
The company registered revenue of $183.7 million in the first quarter of 2023, down 19% from the first quarter of 2022, with online job posting suffering due to the downturn in the tech market.
“This action was taken in response to current market conditions and after reducing other discretionary expenses, with a view toward driving long-term efficiency,” the company said in its SEC filing. “By streamlining its organization and optimizing its cost structure, the company believes it can execute faster with increased focus on its top priorities and long-term strategic growth objectives, including continued development of its technology roadmap.”
