Glassdoor, the popular employer rating website, has announced a reduction in its workforce by approximately 15%, affecting 140 employees. The company’s CEO, Christian Sutherland-Wong, cited the “shifting macroeconomic environment” as the reason for the layoffs. In a memo sent to employees, Sutherland-Wong mentioned that they had exhausted all options to avoid this outcome.
Glassdoor is known for providing insights into company culture, salaries, and job listings. Its platform allows job seekers to get a glimpse of what it’s like to work at a particular company, including the experiences of current and former employees. However, with the job market cooling after the post-Covid boom, Glassdoor’s business has taken a hit. Last quarter, US sponsored jobs were down 33% year over year, and the company saw declines in retention rates for its ‘Employer Branding’ customers.
The severance package for impacted employees includes a minimum of 16 weeks of base pay and healthcare coverage for four months. They will also receive a 100% payout of a Spring 2023 bonus and a full payout of earned commissions and spiffs. Glassdoor’s decision to provide such a comprehensive severance package is a sign that they are committed to treating their employees with respect and empathy, even during difficult times.
It’s always difficult to see people losing their jobs, and Glassdoor’s announcement is no exception. However, the company’s decision to offer a generous severance package is a commendable move that acknowledges the value of its employees. It’s also worth noting that Glassdoor has been transparent about its challenges, and it’s clear that they did not make this decision lightly.
Overall, Glassdoor’s layoffs are a reminder that no company is immune to economic fluctuations, even one as prominent as Glassdoor. However, the company’s commitment to treating its employees with respect and generosity during difficult times is a testament to their values as an organization. It’s a reminder that, even during tough times, empathy and kindness can go a long way in supporting those who are impacted.