ZipRecruiter slashing 20% of staff, CEO accepts pay cut

Dozens of jobs are on the chopping block at ZipRecruiter, as the company streamlines its organization and optimizes its cost structure.

In a filing to the U.S. Securities and Exchange Commission (SEC) on May 31, the job site announced that it’s laying off approximately 270 employees, or 20 per cent of its global workforce.

“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 filing reads.

Around half of the affected workers are from ZipRecruiter’s sales and customer support teams. It remains unclear how many Canadian employees are impacted by the latest round of cuts.

The company added that it expects to complete “substantially all of the headcount reduction by the end of the fiscal quarter ending June 30, 2023.”

According to LinkedIn, ZipRecruiter employs a total workforce of more than 1,600 people.

CEO agrees to pay cut

In addition to the layoffs, ZipRecruiter CEO Ian Siegel agreed to have his base salary reduced by 30 per cent as of June 1.

According to news outlets, including CNN, Siegel’s base salary is around $550,000, but his total compensation in 2022 was roughly twice that amount.

ADDITIONAL RESOURCES
• Can my employer cut my pay in Ontario?
• Pay cuts in Alberta: Employee rights
• Can employers in B.C. cut a worker’s pay?

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