DHI Group To Restructure Operations Into Two Distinct Divisions

Dice Holdings

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Kaufen / Verkaufen

(RTTNews) - DHI Group, Inc. (DHX) announced on Monday a strategic reorganization, separating its Dice and ClearanceJobs businesses into two distinct divisions.

The reorganization is expected to be largely complete by February 2025.

The company aims to reduce DHI's total workforce by approximately 8% through reorganization, primarily by adjusting team structure and mid-level management.

The company also expects the restructuring to 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 manage employees, business systems and public company obligations efficiently.

"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.