ZipRecruiter Cuts 20% of Workforce in Latest Tech-Sector Layoffs

Bloomberg2023-06-01

CEO Ian Siegel will also see his base salary cut by 30%Half of job cuts will come from sales, customer support rolesZipRecruiter Inc., the job posting site, is eliminating about 20% of its workforce ...

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mavis88
2023-06-01
mavis88
[Surprised]

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Chief Executive Officer Ian Siegel will also take a 30% cut to his base salary, which was $550,000 last year, according to the company’s annual proxy statement.   “In response to continuing macroeconomic challenges, we recognize the need to right size our workforce so that we can more efficiently drive our business forward — a decision we do not take lightly,” a spokesperson said in an emailed statement.Companies of all stripes have slowed hiring this year, causing ZipRecruiter’s revenue to fall 19% in its latest quarter compared with the same period a year ago, the biggest drop since the early days of the pandemic. 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