LinkedIn, an American business and employment-oriented online service, has announced that it is sacking 960 employees due to the slump in recruitment services as a result of the ongoing COVID-19 pandemic. This is approximately 6% of its workforce.
Microsoft-owned LinkedIn has offices in more than 30 cities around the world and employs 16,000 people
According to LinkedIn CEO Ryan Roslansky in a statement, “LinkedIn is not immune to the effects of the global pandemic. Our Talent Solutions business continues to be impacted as fewer companies, including ours, need to hire at the same volume they did previously.”
“To continue adapting and accelerating the company like we have been, we need to ensure we are focusing our efforts and resources against our most strategic priorities to set up the company for success today—and well into the future. When we took a hard look at the business, we decided we needed to make some hard calls.”
“After weeks of discussion and deliberation, the executive team and I have made the extremely difficult decision to reduce approximately 960 roles, or about 6 percent of our employee base, across our Global Sales and Talent Acquisition organizations. I’m sharing this news today so that everyone has the complete picture of these changes and why we are making them, and I want you to know these are the only layoffs we are planning.”
He further explained that there are a set of roles in the Organisation that are no longer needed as the company evolves the way it works with its talent media customers and small businesses and as it adjusts to the reduced demand in its internal hiring and its our talent products globally.
Ho however stated that the company is “committed to a thoughtful and compassionate transition process and are helping with comprehensive financial, healthcare and career support.”
Microsoft acquired LinkedIn in a $26.2 billion deal in 2016
