Hays has unveiled deep workforce cuts as it intensifies cost-saving efforts amid a prolonged downturn in the global jobs market, reducing consultancy headcount by 14%.
"Increased in-person collaboration across a core part of our merchandising team will help us reinforce our merchandising authority, unlocking greater creativity and enabling us to move faster to deliver on our strategy."
At least 125 employees, which is more than 20% of the company's workforce, were let go as Underdog shifts away from some of its traditional offerings and leans more heavily into prediction markets. Teams in fraud operations, marketing, customer support, and product were among those affected.