LinkedIn said today, it would lay off around 960 jobs, or 6% of its manpower worldwide, since the COVID-19 pandemic is having a sustained impact on demand for its recruitment products.
California-based LinkedIn helps employers assess a candidate’s suitability for a role and employees use the platform to search for new job.
Jobs will be cut across sales and hiring divisions of the group worldwide. Declaring the plan in a message posted on LinkedIn’s website, Chief Executive Ryan Roslansky said the company would provide at least 10 weeks of severance pay as well as health insurance for a year for U.S. employees, and will hire for newly-created roles from laid-off staff.
“I want you to know these are the only layoffs we are planning,” Roslansky said in his message. Affected staff, who have not yet been told, would be able to keep company-issued cell phones, laptops, and recently purchased equipment to help them work from home while making career transitions, he said.
As lockdowns to contain the coronavirus have hit businesses around the world, LinkedIn’s business has been hit as companies lay off staff or sharply curtail hiring.
LinkedIn said employees affected by its job cuts will be informed this week and they will start receiving invitations in the next few hours to meetings to learn more about next steps.
“If you don’t receive a meeting invite, you are not directly impacted by this change,” Roslansky said.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.