Employment oriented online platform LinkedIn has said that it will be cutting down its global labor force by 6% which is equivalent to 960 employees. The company says the pandemic has reduced the demand of its job recruitment services.
The platform is owned by Microsoft Corp. (MSFT) and it helps linking job seekers with potential employers. The platform even goes a step further to assess and identify the most suitable candidate for the job on offer.
The Chief Executive Officer Ryan Roslansky, said most of the employers who will be affected by the job cuts are those in the sales and hiring divisions. Additionally, the CEO said the company will be providing a minimum of 10 weeks severance pay and health insurance for its U.S employees.
“I want you to know these are the only layoffs we are planning. Affected staff, who have not yet been told, would be able to keep company issued cell phones, laptops, and recently purchased equipment to help them work from home while making career transitions,” added the CEO.
Employees affected by the job cut down will be informed in the course of the week. They will further receive invitational messages to get more details about the entire process.
Nonetheless, the CEO said if an employee doesn’t receive a message, then he/she is not directly affected by the job cut.