DHI Group, Inc. (DHX) announced on Monday a strategic restructure to segment its Dice and ClearanceJobs operations into two distinct divisions. This transformation is projected to be substantially finalized by February 2025.
The reorganization plan aims to reduce DHI's overall workforce by approximately 8%, primarily through team restructuring and redefining roles within mid-level management. The objective is to establish a line-of-business framework that integrates sales, marketing, and product development functions under distinct brand leaders, minimizing functional redundancy. At the same time, centralized teams will continue to support essential operations in human resources, finance, and technology to efficiently manage personnel, business systems, and public company obligations.
Art Zeile, CEO of DHI Group, Inc., stated, "Over the past few years, it has become evident that Dice and ClearanceJobs are more successful when each brand operates with focused strategies tailored to their respective markets. With the backing of our board of directors, we are separating the Dice and ClearanceJobs organizations. This strategic move is intended to enhance our shareholder value, maximize profitability, and offer stronger long-term strategic options."
As part of the new corporate structure, key leadership adjustments include: Paul Farnsworth, who currently holds the position of Chief Technology Officer, will expand his role to become President of Dice, overseeing sales, marketing, and product development. Similarly, Alex Schildt, presently Vice President of Sales for ClearanceJobs, will advance to President of ClearanceJobs, with responsibilities encompassing sales, marketing, and product development.
The company anticipates incurring approximately $2.2 million in cash costs related to employee severance and benefits, with the entirety expected to manifest as future cash expenditures. These charges will likely be recorded in the first quarter of 2025, with the associated cash disbursements projected to be largely concluded by the third quarter of 2025.
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