LinkedIn to cut 960 jobs after virus curbs hiring
By: Bloomberg |
Published: July 22, 2020 1:49:04 pm
LinkedIn to cut 960 jobs after virus curbs hiring (Reuters)
Microsoft Corp’s LinkedIn professional network eliminated almost 1,000 jobs after the coronavirus pandemic curbed demand for the company’s recruiting tools.
A total of 960 roles will be cut, about 6% of LinkedIn’s workforce. The reductions are happening in the company’s Global Sales and Talent Acquisition departments. LinkedIn Chief Executive Officer Ryan Roslansky announced the move in a Monday email to employees.
Millions of workers have lost their jobs since Covid-19 swept across the globe and forced governments, businesses and consumers to limit many activities. That’s left fewer companies seeking to hire new employees, which has weakened demand for the recruiting tools offered by LinkedIn’s Talent Solutions group.
“COVID-19 is having a sustained impact on the demand for hiring, both in our LTS business and in our company,” Roslansky said in a statement.
The company plans to consolidate some parts of LinkedIn Talent Solutions with LinkedIn Marketing Solutions to avoid “duplicating costly platforms, systems and tools internally.” It is also switching from a field sales team to service small-business customers to an online system.
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