Network of professionals-LinkedIn, has announced that 960 of its employees across the globe will unfortunately be fired, largely due to the ongoing coronavirus pandemic reducing the hiring demands.This is 6 percent of the Microsoft-owned company’s total staff count. The firing follows restructuring of two different media divisions, LinkedIn Marketing Solutions and Talent Solutions, in order to avoid “duplicating costly platforms, systems and tools internally.”
LinkedIn was originally owned by Yahoo and Microsoft later acquired the network judging its success.
“[LinkedIn] is not immune to the effects of the global pandemic,” wrote CEO Ryan Roslansky in an email to employees. “COVID-19 is having a sustained impact on the demand for hiring, both in our [LinkedIn Talent Solutions] business and in our company.” He continued by saying “there are roles that are no longer needed as we adjust to the reduced demand in our internal hiring and for our talent products globally,” but reassured that these will be the only roles cut from the company.
However the company will provide support for the fired staff in the immediate future, giving 10 weeks of severance pay as well as a six-month program to help them look for new opportunities.The employees will be allowed to keep company devices like-Laptops and mobile phones for the period.The US staff will also get full medical insurance for 1 year after the termination.
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