In a letter addressed to LinkedIn employees, CEO Ryan Roslansky has announced organisation-wide layoffs.
The pandemic has deeply affected businesses worldwide, and therefore, reduced hiring volumes. Being a talent solutions company, LinkedIn has also faced the brunt, with businesses failing to hire as they did before.
To deal with the present situation, LinkedIn is slashing about 960 jobs globally, which is about six per cent of its worldwide staff. The impact on jobs in India is not known yet.
The American business and employment-oriented online service, which is a subsidiary of tech giant Microsoft, has about 1,200 employees in India. It also has a development centre in Bengaluru.
The layoffs will affect LinkedIn’s global sales and talent acquisition organisations (GSO and GTO), where many roles have been rendered redundant because of the adjustments made by the Company to deal with the fall in demand for its offerings.
The impacted staff members in North America, Brazil, and parts of APAC (Asia-Pacific) will remain with the Company till August 21. The affected staff in Dubai will be serve until September 29.
Consultations with employees in Ireland, Australia and the UK about potential impacts to roles and the Company are on.
In August, the employees who work in France, Sweden and Spain will get to know more about the proposed impact to roles, whereas those in Italy will hear about the impacts in September.
LinkedIn will provide at least 10 weeks of severance pay, and its global immigration team will provide personalised support to the staff on company-sponsored visas.
Hiring for newly-created roles will also take place and opportunities for the impacted employees will also be considered.