Tangential to the topic at hand, I'm rather disappointed this got left sidebar space, and chat and meta haven't despite long standing feature requests. As a moderator on a technical site and another one, it’s something that would have potential long term benefits for my site.
Is this going to replace the companies linkIs this going to replace the companies link (which is essentially a vestigial organ of 'old' careers) or is it an added on link without any other changes? (which is essentially a vestigial organ of 'old' careersI missed that this was covered in the question) or is it an added on link without any other changes?
I see other folks have covered the USPs of old jobs/careers, specifically the developer story, so I won't retread that again. But I suspect that'll have more value for many people.
I used to critique the old SO jobs as something that didn't work because SO was a small fish in the broader job-website market, so I actually think this may be the right way to go if you can combine letting Indeed do the part of building a job site (and ideally at minimal developer work on the SO side) and adding the things that made SO jobs unique on top of that.
You would also do well to remember the main value SO has is their reputation, and preserving that with the community would be a good idea if people were to go with the SO Indeed instance over the main one.
On that note, it feels like you're 'lending' the SO name to a simple rebranded indeed page. I'm pretty sure that the answer I'd get here is 'we can't talk about the financial details', but we just went through a very painful belt tightening process. I'd hope that these 'initiatives' are going to help the bottom line, and that at least some of these resources flow back to the community.