Is SEEK Limited profitable in 2026?

Yes on an adjusted basis: H1 FY2026 (to 31 Dec 2025) Adjusted Profit was A$104.1m, up 35% YoY, per SEEK's 16 Feb 2026 results. However SEEK posted a statutory loss of A$177.9m for the half due to a A$356m Zhaopin impairment.

Is SEEK Limited cutting jobs in 2026?

No confirmed layoffs reported. IBISWorld put SEEK's headcount at 3,245 in 2025, broadly stable. The bigger workforce story is seven straight months of declining Australian job-ad volumes through March 2026, per SEEK's own Employment Report.

Could AI replace SEEK's job board?

SEEK's core matching/ad-placement function is exactly what OpenAI's Jobs Platform (announced 4 Sept 2025, targeting mid-2026 launch) and Indeed's ~12 OpenAI-powered matching tools target. SEEK counters with AI-enhanced targeting and a 'trusted intermediary' role, but no rival has yet captured ANZ share as of mid-2026.

Who is SEEK's biggest competitor?

In ANZ, Indeed and LinkedIn have competed for roughly 20 years without breaking SEEK's dominance. The emerging threat is OpenAI's Jobs Platform, announced 4 September 2025 for a mid-2026 launch with anchor employers like Walmart, directly targeting SEEK's matching business.

Is SEEK Limited a safe company to join in 2026?

SEEK holds a dominant ANZ marketplace position with FY2026 guidance of A$1.19-1.23bn net revenue and A$530-550m EBITDA (Feb 2026). Risk sits in seven consecutive months of declining job-ad volumes through March 2026 and rising AI competition from OpenAI and Indeed.

Who owns SEEK Limited?

SEEK Limited (ASX: SEK) is publicly traded with no controlling parent, market cap around A$6.10 billion as of 16 Feb 2026. Ian Narev is CEO and Managing Director, with Gregory Roebuck as Non-Executive Chairman, per company profile data.

Job boards and HR platforms · Australia

SEEK Limited

seek.com.au ↗

SEEK runs the dominant online job marketplace in Australia and New Zealand.

Defensible for now

Assessed 22 July 2026 · Evidence as of 22 July 2026

Real protection, with named pressure against it.

On the recordSince 22 July 2026 · Checkable from 18 August 2026 · Every call on the record Checkpoint: FY2026 full-year results and monthly Employment Report data

The call

SEEK still leads ANZ hiring by a wide margin, but AI matching tools are pointed straight at the function that earns its money.

SEEK is a job-search website where employers post openings and workers find positions, making money by charging employers to list ads. It has been hard to replace because it has built up so many job listings and users over 20 years that employers and job hunters naturally go there first, but AI tools from OpenAI and Indeed are now doing the matching work automatically, which is exactly what SEEK charges for. The real test is whether SEEK can keep raising prices as fewer job ads are posted each month, because if employers start using AI tools instead and stop buying ads from SEEK, the company will run out of pricing power and lose its hold on the market.

Why

AI pressure: OpenAI Jobs Platform and Indeed's OpenAI-powered matching tools. Both target the same job matching and ad placement function SEEK monetizes, though neither has taken ANZ share yet. Could AI do the core job? Only partly.

Bigger players: Indeed (Recruit Holdings). Indeed has deployed around 12 OpenAI-powered matching products globally, a template it could bring to ANZ. Could a giant copy it? No, they are blocked.

What protects it. 20 years of ANZ employer and candidate habit: 90% time-on-site and a 4.9x placement lead over rivals.

What would change this call

SEEK FY2026 results (18 Aug 2026) show yield growth vs job-ad volume trend. Whether yield offset keeps masking volume decline or pricing power exhausts.
OpenAI Jobs Platform's ANZ launch signs up major employers or captures candidate traffic. Whether disintermediation of SEEK's marketplace is actually starting.
SEEK's monthly Employment Report shows accelerating or stabilizing ad-volume decline. Whether the erosion is structural (AI-driven) or a temporary macro dip.

Key numbers

A$1,090.4m FY2025 net revenue, flat constant currency (2025-06-30)
Market cap A$6.10 billion (2026-02-16)
Seven straight months of falling job-ad volumes (2026-07-22)

Named risks

OpenAI Jobs Platform and Indeed AI-matching directly target SEEK's core ad-placement monetization model. Severity: high
Seven consecutive months of declining ANZ job-ad volumes through March 2026 concentrated in AI-exposed roles. Severity: medium
China exposure via Zhaopin stake, following A$356m impairment disclosed February 2026. Severity: medium
Yield growth (13-17%) currently masking volume decline; pricing power could exhaust if volumes fall faster. Severity: medium

Rivals, as read in July 2026

Rival	Direction	Evidence
OpenAI Jobs Platform	gaining on	Announced 4 Sept 2025, targeting mid-2026 launch with anchor employers like Walmart
Indeed	contesting	Deployed ~12 OpenAI-powered matching products, claims +20% started applications as of 17 Nov 2025 (Indeed's own figure)
LinkedIn	contesting	Long-standing competitor in passive-candidate/professional segment across ANZ, no share breakthrough as of mid-2026

Questions people ask

Is SEEK Limited profitable in 2026?: Yes on an adjusted basis: H1 FY2026 (to 31 Dec 2025) Adjusted Profit was A$104.1m, up 35% YoY, per SEEK's 16 Feb 2026 results. However SEEK posted a statutory loss of A$177.9m for the half due to a A$356m Zhaopin impairment.
Is SEEK Limited cutting jobs in 2026?: No confirmed layoffs reported. IBISWorld put SEEK's headcount at 3,245 in 2025, broadly stable. The bigger workforce story is seven straight months of declining Australian job-ad volumes through March 2026, per SEEK's own Employment Report.
Could AI replace SEEK's job board?: SEEK's core matching/ad-placement function is exactly what OpenAI's Jobs Platform (announced 4 Sept 2025, targeting mid-2026 launch) and Indeed's ~12 OpenAI-powered matching tools target. SEEK counters with AI-enhanced targeting and a 'trusted intermediary' role, but no rival has yet captured ANZ share as of mid-2026.
Who is SEEK's biggest competitor?: In ANZ, Indeed and LinkedIn have competed for roughly 20 years without breaking SEEK's dominance. The emerging threat is OpenAI's Jobs Platform, announced 4 September 2025 for a mid-2026 launch with anchor employers like Walmart, directly targeting SEEK's matching business.
Is SEEK Limited a safe company to join in 2026?: SEEK holds a dominant ANZ marketplace position with FY2026 guidance of A$1.19-1.23bn net revenue and A$530-550m EBITDA (Feb 2026). Risk sits in seven consecutive months of declining job-ad volumes through March 2026 and rising AI competition from OpenAI and Indeed.
Who owns SEEK Limited?: SEEK Limited (ASX: SEK) is publicly traded with no controlling parent, market cap around A$6.10 billion as of 16 Feb 2026. Ian Narev is CEO and Managing Director, with Gregory Roebuck as Non-Executive Chairman, per company profile data.

Timeline

2026-05-04Jobstreet launches Accenture Song 'quality of match' campaign across six SE Asian markets
2026-03-19SEEK data shows seven consecutive months of declining Australian job-ad volumes
2026-02-17SEEK Growth Fund launches divestment process for Employment Hero stake
2026-02-16H1 FY2026 results: net revenue A$600.9m +12%, EBITDA A$267.1m +19%, market cap A$6.10bn
2026-02-08SEEK takes A$356m post-tax impairment on 23.5% Zhaopin stake
2025-10-30Apply with SEEK API Version 1 deprecated ahead of December 2025 cutoff
2025-09-04OpenAI announces Jobs Platform, targeting mid-2026 launch
2025-05SEEK completes 100% acquisition of Sidekicker at implied A$70.8m valuation
2025-02-03SEEK's Xref acquisition fails shareholder vote (67.6% vs 75% required)
2024-06SEEK sells Latin American holdings OCC Mexico and Catho Brazil to Red Arbor

Revision history

22 July 2026

First assessed. Defensible for now. The text above is fixed as of this date and is not edited afterwards.

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freee K.K.UKG (Ultimate Kronos Group)The Predictive Index