LinkedIn cuts 960 jobs, puts brake on corporate hiring

Professional networking site LinkedIn said on Tuesday it would cut about 960 jobs. This is 6% of its global workforce. Further, the coronavirus pandemic is having a sustained impact on demand for its recruitment products. The company that helps candidates to find jobs, is cutting jobs across sales and hiring divisions.

The company announced the plan on a message posted on LinkedIn’s website. CEO Ryan Roslansky said the company would provide at least 10 weeks of severance pay. It will also let the US employees keep their health insurance for a year. In future, it will also hire for newly-created roles from laid-off staff.

Ryan Roslansky on Job cuts at LinkedIn

Ryan said employees that are affected through job cuts get to know it within this week. 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.

He further added that this was the only reduction the company was planning. “I want you to know these are the only layoffs we are planning,” Roslansky said in his message.

Affected staff can keep the cell phones, laptops, and recently purchased equipment to help them work from home while making career transitions. The lockdown hit businesses around the world, and LinkedIn’s business has been hit as companies lay off staff or sharply curtail hiring.

When will the employees know?

Employees who work in North America, Brazil, and parts of APAC, Linked will inform them in the next 24 hours. Employees who work in France, Sweden, and Spain will learn more about the proposed impact on roles during August. Further, employees in Italy will hear about proposed impacts in September.

These departing employees will be with LinkedIn through August 21st. Impacted employees in Dubai will also be notified in the next 24 hours and will be with us through September 29th. LinkedIn has already begun consultation with employees in Ireland, the UK, and Australia. They will further continue to work through those locally.