LinkedIn to lay off 716 employees

LinkedIn

In the most recent round of significant tech layoffs, Microsoft-owned LinkedIn has announced a plan to eliminate 716 employees globally. 3.5% of the 20,000-person staff of the corporation would be affected by the layoffs. Months after Jumia stated it would be laying off 900 staff, a fresh development has occurred.

LinkedIn's CEO, Ryan Roslansky, announced that the company will be making changes to its Global Business Organization (GBO) and China strategy, resulting in the reduction of 716 roles. Roslansky acknowledged the invaluable contributions made by the impacted colleagues and assured them that the leadership team is dedicated to helping them during the transition while ensuring they are treated with care and respect. The affected employees will receive severance pay, continuing health coverage, and career transition services. For employees outside the U.S., the benefits will align with local employment laws and practices.

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Roslansky explained that the company is experiencing slower revenue growth due to shifts in customer behavior and an evolving market, and it is essential to adapt its strategy continuously to achieve its vision. The company is expanding the use of vendors, removing layers, and broadening responsibilities to make decisions more quickly and efficiently. Additionally, LinkedIn has an internal mobility process to help impacted employees find new roles if there is a skill fit.

Despite the layoffs, LinkedIn is making meaningful progress in creating economic opportunities for its members and customers and is experiencing record engagement on the platform. Roslansky emphasized that LinkedIn is entering a new decade, where AI is just beginning to accelerate changes in the global economy and labor market, making it more essential than ever to help members and customers navigate the changes to access economic opportunity.

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LinkedIn is one of the latest technology companies to lay off employees in the recent wave of massive layoffs in the tech industry. Companies such as Twitter, Facebook, Amazon, Salesforce, Microsoft, Google, eBay, PayPal, and Jumia have also been affected.