Gem

Gem, a recruiting software company, has laid off approximately 70 employees due to challenging macroeconomic conditions that have led many companies to pause or slow hiring, reducing demand for its services. This workforce reduction, announced by CEO Steve Bartel, is aimed at extending the company's financial runway by multiple years to ensure long-term stability and continued service for customers. The layoffs reflect broader industry contractions affecting HR tech, as Gem adjusts its structure to weather a potential prolonged economic downturn while maintaining its product and service quality.

Gem laid off 100 employees representing approximately 33% of its workforce on 2022-11-01.