ZipRecruiter Slashes Staff by 39% as Job Market Seizes – a Telling Sign as Nation Slides Into Recession
ZipRecruiter, one of the nation's largest websites connecting companies with jobseekers, has slashed nearly 40% of its own staff as the economy buckles in the fallout of the coronavirus crisis that's upended both Wall Street and Main Street.
The Santa Monica-based company cut 492 employees on Friday, with about 49 of them furloughed with only their healthcare benefits and the hope that the company will make good on its intention to bring them back, sources told dot.LA. The biggest hit was at ZipRecruiter's office in Tempe, from its sales team.
- ZipRecruiter Cuts 39% oIt's not a good sign when one of the country's largest recruitment websites cuts a very large chunk of its own staff. Reporter Sam Blake got the story on ZipRecruiter's decision and what it could mean for the economy.f Its Staff - dot.LA ›
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As the nation prepares for uncertain months ahead, small-to-mid-size companies will struggle as the crisis drags on and their financial resources dwindle, their labor pool is strained and inventories are drying up, according to experts speaking at dot.LA's "Strategy Session: Coronavirus".
Nick Vyas, executive director of USC Marshall's Center for Global Supply Chain Management, and Stewart Easterby, operating partner at Los Angeles-based venture capital firm Greycroft, painted a challenging picture ahead for companies that fuel the nation's economy.