Financial Services Union (FSU) has shown support for Indeed’s decision to incorporate the readiness of individual employees to take voluntary redundancy into its selection process for its latest round of job cuts. However, according to FSU, Indeed needs to enhance the basic terms given to exiting employees.
Indeed was founded in Ireland in 2012 and now has over 1,200 employees. It is currently seeking roughly 70 redundancies as a component of a global restructuring scheme.
This marks the second wave of job cuts impacting Indeed’s Irish workforce within a short time frame. Approximately 220 employees were laid off last year as part of broader cost-saving measures.
Rather than financial issues, Chris Hyams, the company’s chief executive officer (CEO), stated the new round of redundancies is driven by the will to streamline the company structure and reduce duplicates.
Around 175 employees have reportedly been informed they could lose their jobs at the company’s Irish offices, which function as the firm’s headquarters for Europe, Middle East, and Africa (EMEA). Indeed Ireland Operations Limited, the company’s Irish division, reported profits of €783 million for the period of 15 months ending March 31st last year.
The company recently started consultations about the job cuts, stating that performance would be the critical determinant in deciding who to dismiss. However, on Friday it confirmed that employees’ willingness to accept a redundancy package voluntarily would now be considered in the selection process.
On Tuesday, the FSU praised the decision, saying they believe the required number of departures can be comfortably accomplished on a voluntary basis, with significantly more than 70 employees indicating a willingness to leave in a recent staff survey.
Nevertheless, Gareth Murphy, FSU’s head of industrial relations and campaigns, asserts that the company should provide improved redundancy terms. He emphasises the need for vigilance in ensuring the company’s genuine commitment to a voluntary approach to redundancy.
In a recent staff assembly, the employees have communicated their dissatisfaction regarding two key aspects of the redundancy conditions. The company has proposed at least 16 weeks of pay per individual, complemented with standard redundancy benefits and an additional week of pay for each year past five years of service.
The workforce, particularly those with long service records, urges the employer to appropriately acknowledge their commitment and the significant role they have played in Indeed’s success. Indeed responded by stating that their main objective in Ireland is to ensure that the consultation procedure is clear and inclusive for all those affected. They aim to ensure that all proposals are understood by the affected employees and that their concerns are taken into account.
Moreover, Indeed is working in collective consulting with employee representatives chosen by their peers, intending to maintain a positive interaction during all stages of the process. They pledged to adhere strictly to the legal obligations related to this procedure.