LinkedIn axes 960 jobs as recruitment demand falls
Microsoft-owned company is laying off 6% of its global workforce as firms hire fewer staff during the coronavirus pandemic
Microsoft-owned LinkedIn has announced plans to axe 960 jobs, approximately 6% of its global workforce, as firms recruit fewer staff amid the coronavirus pandemic.
In a notice posted publicly on the professional networking website, LinkedIn CEO Ryan Roslansky said that the company "is not immune to the effects of the global pandemic", adding that LinkedIn has taken a hit "as fewer companies, including ours, need to hire at the same volume they did previously."
Rolansky, who took over as LinkedIn CEO in June after previously holding a senior vice president role, confirmed that jobs will be cut across sales and hiring divisions of the group globally.
While staff in the US have not yet been made aware of the cuts, he noted that employees in the UK and Ireland have have begun consultation about potential impacts to roles.
“I want you to know these are the only layoffs we are planning,” Roslansky said in his message. "While this decision will help us ensure that our company and platform are resilient and emerge stronger to reach our vision, there is simply no harder decision to make as a CEO."
Those affected by the layoffs will be able to keep company-issued smartphones, laptops, and recently purchased equipment to help them work from home while making career transitions, he said.
Laid-off staff will also be offered a minimum of 10 weeks of severance pay and career transition assistance in the form of 1:1 coaching, workshops, and LinkedIn Learning courses on interview prep, compensation fundamentals, job search strategies, and integrating into a new role.
"To our teammates who are leaving: I deeply thank you for the positive impact you’ve made. Your time and effort have been critical to helping manifest LinkedIn’s vision," Rolansky added.
"Please know these changes aren't a reflection on you or your work at LinkedIn, but rather, the result of strategic changes we are making to accelerate the vision of the company. You’ve played an important role in building LinkedIn, and I am truly grateful."
LinkedIn isn't the only company to feel the effects on the ongoing pandemic. Back in May, IBM laid off "thousands" of staff across multiple divisions, and reports claim Oracle is preparing to axe up to 1,300 employees.