By Stephen Appezzato
HOLMDEL – Bell Works-based technology giant iCIMS will lay off 69 employees associated with its Holmdel headquarters as the firm undergoes a companywide transformation.
According to a company spokesperson, iCIMS will refocus efforts and investments “crucial to our future and our customers,” including product research and design, innovation, customer experience and, notably, artificial intelligence (AI).
The global tech company provides cloud-based human resources and recruiting software, which includes attracting talent, application management and engagement. According to its website, a quarter of Fortune 500 companies use its software.
The news comes after iCIMS was highlighted in a WARN (Worker Adjustment and Retraining Notification) notice issued by the state Department of Labor and Work- force Development, which legally requires employers with 100 or more full-time workers to provide notice 60 days in advance of any plant closings or mass layoffs.
According to Jackeline Mejias-Fuertes, the director of Brookdale Community College’s Small Business Development Center, similar restructurings are occurring across the technology industry as many companies invest in AI, especially for managing internal processes and data.
“When you’re looking at it (AI) from an operational perspective, you know, the scale of efficiency is amazing, and in all departments,” Mejias-Fuertes said. “It definitely allows you to do more in less time. It allows you, the human, to be more creative, while the artificial intelligence is taking care of sometimes even the mundane things,” she added.
“We live in a world where data is everything,” Mejias-Fuertes said. “When it comes to data utilization, AI is able to process so much information at such a quicker rate than we ever could.”
Similarly, many companies use AI for customer engagement and support. When a user visits a company’s website, AI often powers the chat support bots.
In a statement from iCIMS, the spokesperson said, “Like all tech companies, we are continuously adapting our strategy to address the needs of the market,” which includes increasing investments in automation and AI “to enhance the day-to-day product, service and support experience so TA (talent acquisition) teams can get the most out of our platform.”
As part of the company’s shift, iCIMS will be “optimizing other aspects of our business, which includes a restructuring of some of our teams, and we’ve made the difficult decision to part ways with some team members,” he said. “While this does not change the result, we are treating impacted employees with dignity and respect and providing them with resources and appropriate separation benefits to help them manage the transition. These decisions were difficult, but our go-forward plan will allow us to invest in the core areas of TA tech our customers need most,” he continued.
iCIMS, which sells its software to companies in over 200 countries and territories, made headlines in 2016 when it anchored its headquarters at Bell Works. The spokesperson confirmed a portion of its 340,000-square-foot lease will be sublet throughout the shift.
As more and more businesses turn toward AI, the World Economic Forum anticipates a shift in the job market, estimating 85 million jobs will be displaced around the world while 97 million AI-centric roles will emerge.
Mejias-Fuertes said technology companies are turning toward AI to keep that “competitive edge” and adapt and innovate more quickly. However, the three-year-old technology also has its cons.
“AI hallucinates at times. So again, that’s why I keep on preaching the human factor because only a human being who knows or is an expert in a certain industry can tell if it’s hallucinating,” she explained.
The article originally appeared in the August 15 – 21, 2024 print edition of The Two River Times.
