LinkedIn Cuts 960 Jobs as Pandemic Puts the Brakes on Corporate Hiring

LinkedIn Cuts 960 Jobs as Pandemic Puts the Brakes on Corporate Hiring

Microsoft’s skilled networking website LinkedIn mentioned on Tuesday it might minimize about 960 jobs, or 6 p.c of its world workforce, as the coronavirus pandemic is having a sustained impression on demand for its recruitment merchandise.

California-based LinkedIn helps employers assess a candidate’s suitability for a task and workers use the platform to seek out new job.

Jobs can be minimize throughout gross sales and hiring divisions of the group globally. Announcing the plan in a message posted on LinkedIn’s web site, Chief Executive Ryan Roslansky mentioned the firm would offer at the least 10 weeks of severance pay as nicely as medical health insurance for a 12 months for US workers, and can rent for newly-created roles from laid-off employees.

“I want you to know these are the only layoffs we are planning,” Roslansky mentioned in his message. Affected employees, who haven’t but been instructed, would be capable of hold company-issued cell telephones, laptops, and just lately bought tools to assist them earn a living from home whereas making profession transitions, he mentioned.

As lockdowns to include the coronavirus have hit companies round the world, LinkedIn’s enterprise has been hit as corporations lay off employees or sharply curtail hiring.

LinkedIn mentioned workers affected by its job cuts can be knowledgeable this week and they’re going to begin receiving invites in the subsequent few hours to conferences to study extra about subsequent steps.

“If you don’t receive a meeting invite, you are not directly impacted by this change,” Roslansky mentioned.

© Thomson Reuters 2020

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