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Linkedin Cutting 960 Jobs Worldwide As Pandemic Hits Recruitment Industry

  • LinkedIn said yesterday it would slash about 960 jobs, or 6 percent of its global workforce.
  • Since lockdowns to contain the coronavirus have hit businesses around the world, LinkedIn has been hit as companies lay off employees or dramatically limit recruiting.
  • LinkedIn, headquartered in California, helps employers determine the suitability of an applicant for a position, while workers are using the network to find new jobs. The company said its sales and recruiting divisions would cut jobs worldwide.
  • Visit The Financial Today’s homepage for more stories.

New York • Professional networking platform LinkedIn said yesterday it would slash about 960 jobs, or 6 percent of its global workforce, as the COVID-19 pandemic has a prolonged impact on the demand for its recruitment products.

Since lockdowns to contain the coronavirus have hit businesses around the world, LinkedIn has been hit as companies lay off employees or dramatically limit recruiting.

LinkedIn, headquartered in California, helps employers determine the suitability of an applicant for a position, while workers are using the network to find new jobs. The company said its sales and recruiting divisions would cut jobs worldwide.

Chief Executive Ryan Roslansky said on his LinkedIn post that the company will pay at least 10 weeks in severance and would recruit laid-off employees for newly formed positions. The company will also provide US employees with health insurance for a year.

“I want you to know these are the only layoffs we are planning,” Roslansky said in his message. “If you don’t receive a meeting invite, you are not directly impacted by this change,” he added.

According to Roslansky, affected employees, some of whom have not yet been notified, would be allowed to retain company-issued cellphones, laptops and equipment recently purchased to help them work from home while making career changes.

[Reuters]

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