A substantial shift is looming in the landscape of job search platforms. Recruit Holdings, the parent company of leading job search sites, Indeed and Glassdoor, has announced layoffs of 1,300 employees. This seismic transitional phase aligns with Recruit Holdings’ broader restructuring strategy, underpinned by an aggressive turn towards artificial intelligence (AI).
This workforce reduction, affecting R&D, tech, HR, and sustainability divisions, dovetails into the proposed integration of Glassdoor’s operations within Indeed. This realignment aims to streamline operations and optimize resource allocation. Although disproportionately impacting the US teams across the two companies, the restructuring is expected to reverberate across all countries and functions.
Starbucks, the beloved coffee franchise headquartered in Seattle, is creating quite a buzz in China. Nearly 30 private equity firms have swiftly submitted nonbinding proposals for the company’s China division, with bids valuing the business at an astounding $10 billion. This news showcases the allure of China’s competitive beverage market. Among the bidders are prominent Asia-based firms Centurium Capital and Hillhouse Investment. American buyout behemoths The Carlyle Group and KKR are also throwing their hats into the ring, proving that the interest is not confined to Asian firms. The bids indicate the valuation of the business to be between $5 billion and $10 billion.