SAN FRANCISCO: Job search engine ZipRecruiter has stated that it will cut its global workforce by about 270 individuals, or about 20% of the company's overall workforce.

After reducing other discretionary expenses, the company said in a filing with the US Securities and Exchange Commission (SEC) that the decision was made "with a view towards driving long-term efficiency" in response to the market's present conditions. "The company believes that by streamlining the organisation and optimising cost structure, it can execute more quickly with increased focus on its top priorities and long-term strategic growth objectives, including continued development of its technology roadmap," it said.

By the conclusion of the fiscal quarter that ends on June 30, the company expects having finished all of the staff reduction.A The sales and customer support departments made up almost 50% of the affected personnel.

consequent to the headcount reduction, the company currently estimates that it will incur a pre-tax charge in the range of USD 7 million to USD 9 million during the fiscal quarter ending June 30.  The Company (ZipRecruiter) was founded in 2010 by Ian Siegel, Joe Edmonds, Ward Poulos, and Will Redd.

In 2017, Meta also partnered with the company and integrated ZipRecruiter into its platform.

In 2018, the company reported that over 1.5 million businesses and 430 million job seekers used its platform. In the same year, ZipRecruiter raised USD 156 million for its online employment marketplace, at a valuation of  USD 1 billion.

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