Professional Diversity Network Inc. (NASDAQ: IPDN) reported 2023 was a difficult year, but it’s seeing hiring increase in some industries. The company provides online and in-person networks with a focus on enabling diverse people to access networking, training, education and employment opportunities. In its earnings announcement today, the company reported revenue was down 2.9% to $1.9 million.

“2023 was a challenging year for PDN, considering the optimism we had as we closed out fiscal 2022,” CEO Adam He said in a press release. “The early 2023 downturn in the economy and reduced hiring in industries that are personnel heavy caused us to look to restructure ourselves internally and alter our marketing strategies.”

He also noted the company acquired Expo Experts this year and increased its stake in RemoteMore to approximately 73%.

“Overall, we were seeing hiring practices increasing in certain industries in second half of 2023 and into early 2024, as evidenced by our recently successful career fair events, specifically our partnership with the National Urban League in February 2024 and the Women’s History and National (Security) Cleared events held in March 2024,” He said.

Professional Diversity Network also reported today that Scott Liu is stepping down from its board. Taking over the role is Ge Yi, who has more than 20 years of experience in the technology industry.

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Share price

Shares in Professional Diversity Network were up 7.23% to $1.78 as of 8:30 p.m. Eastern time on March 28.