Reuters: Business networking site LinkedIn owned by Microsoft said on Tuesday it would cut about 960 jobs, as the COVID-19 pandemic is having a sustained impact on demand for its recruitment products.
LinkedIn helps employers assess a candidate's suitability for the job and people use this social media platform to find new job.
Jobs will be cut across sales and hiring divisons of the group globally. Declaring the job cuts plan in a message posted on LinkedIn's website, Ryan Roslansky Cheif Executive of LinkedIn said the company would provide at least 10 weeks of severance pay as well as health insurance for a year for it's United States employees, and will hire for newly created roles from laid-off staff.
I want everyone to know these are the only layoffs we are planning, Roslansky said in his message.
He also added, affected staffs who have not been informed, would be able to keep company issued laptops, cell phones and other equipments to help them work from home while making career transitions, he said.
As COVID-19 lockdowns to contain the Coronavirus have hit businesses globally, LinkedIn's business has been hit as companies lay off staff drastically curtail hiring.
The company said employees affected by this step will be informed this week and they will start receiving invitation letters in the next few hours to meetings to learn more about next steps.
If you don't receive any meeting invite, you are not impacted by the change, Roslansky said.