CENTENNIAL, Colo.—-DHI Group, Inc. has announced a strategic reorganization, restructuring its operations into two distinct divisions. This reorganization aims to provide dedicated leadership for each brand —Dice (Dice.com) and ClearanceJobs (ClearanceJobs.com)—to foster a unified vision and strategy tailored to their respective market dynamics.
The reorganization is expected to be largely complete by February 2025 and aims to achieve the following:
- Reduce DHI’s total workforce by approximately 8% primarily by adjusting team structure and mid-level management.
- Establish a line-of-business structure that aligns sales, marketing, and product development functions under dedicated brand leaders, lessening functional overlap while maintaining centralized support for human resources, finance, and technology operations to efficiently manage employees, business systems and public company obligations.
“As our business developed over the past few years, I’ve come to see that Dice and ClearanceJobs are better positioned for success when each brand operates with a clear focus and a strategy tailored to their respective markets,” said Art Zeile, CEO of DHI Group, Inc. “With the support of our board of directors, we have decided to separate the Dice and ClearanceJobs organizations. This move is designed to better deliver results for our shareholders, maximize profitability, and provide stronger long-term strategic options.”
Under the new corporate structure, the key leadership changes include:
- Paul Farnsworth, currently serving as Chief Technology Officer, will assume an expanded role as President of Dice, with responsibility for overseeing sales, marketing, and product development.
- Alex Schildt, currently Vice President of Sales for ClearanceJobs, will take on an expanded role as President of ClearanceJobs, overseeing sales, marketing, and product development.
The Company estimates that it will incur approximately $2.2 million in cash charges related to employee severance and benefits and expects all of the $2.2 million to be future cash expenditures. All charges are expected to be recognized in the first quarter of 2025 while the related cash payments are expected to be substantially completed by the third quarter of 2025. The restructuring is expected to generate annual cost savings of approximately $4.0 million to $6.0 million. The savings will begin to be realized immediately subsequent to the restructuring.
In connection with the reorganization, the Company is realigning its reporting structure and will reevaluate its operating segments.
