Sad. Things may have slowed down with the calamity that is known as the coronavirus, but the impact of the pandemic is still being felt. Case being, LinkedIn, who will be cutting around 960 jobs.
Close to 6% of its overall workforce.
CEO Ryan Roslansky let this extremely difficult decision be known to employees in an email sent late at night, announcing that the layoffs affect the Global Sales and Talent Acquisition organizations.
And the reason for this job cut is because of the global pandemic and because fewer companies are hiring. As a result, some roles across this arm of the company are no longer needed. Furthermore, an online servicing model makes more sense over a field sales team.
Which is why the social network has made investments in this regard.
Impacted employees will be communicated in a staged manner. Workers in North America, Brazil, and parts of the APAC region to be reached out in the next 24 hours. Those in France, Spain, and Sweden will be informed in August, while folks in Italy will get the news in September.
As for those affected by the cuts, the company will be providing a minimum of 10 weeks of severance pay, and this amount may increase depending on tenure, country specific practices and other rules and regulations.
Laid off employees will be allowed to keep cell phones, laptops, and other recently purchased equipment so that they can work from home.
Those affected will also be considered for hiring for newly created roles in the company.
Microsoft has been on a bit of a job cut extravaganza lately, with the latest round of layoffs affecting several areas of the company. This latest one, substantial as it is, is just another such event in downsizing drive.