The professional networking website, LinkedIn, has announced that it is reducing its workforce by about 960 jobs which is roughly 6% of its global workforce, as the coronavirus pandemic takes a toll on the job market.
Chief Executive Officer, Ryan Roslansky, publicly stated this on the platform to notify his staff on Tuesday July 21, 2020.
Roslansky stated that the professional networking website is not immune to the economic effects of the global pandemic.
According to CEO, the company has been hurt “as fewer companies, including ours, need to hire at the same volume they did previously.”
“I want you to know these are the only layoffs we are planning as the cuts would affect LinkedIn’s global sales and talent acquisition units,” Ryan stated.
Ryan further stated that the affected staff will be offered at least two and a half months of severance pay and employees from US will be offered health insurance throughout next year.
He further explained that LinkedIn may potentially place some employees in newly created roles.
“This is painful to go through as an organization, but a company with a vision as bold as ours will have to make difficult decisions,” Roslansky concluded.
