Microsoft-owned LinkedIn has announced a plan to cut 716 jobs globally in the latest round of big tech layoffs.
The layoffs would affect 3.5 per cent of the company’s 20,000-strong workforce.
The new development comes months after Jumia announced plans to lay off 900 of its employees.
In a message to the company’s employees on Monday, LinkedIn Chief Executive Officer, Ryan Roslansky, said the decision was aimed at streamlining operations and broadening responsibilities to make decisions more quickly.
“Over the years we’ve had to make hard decisions to ensure we were setting the company up to deliver on our vision, and I’m sharing one of those decisions today.
“As we guide LinkedIn through this rapidly changing landscape, we are making changes to our Global Business Organization (GBO) and our China strategy that will result in a reduction of roles for 716 employees,” Mr Roslansky said.
He noted that colleagues who are impacted by this announcement have all made invaluable contributions to the company.
“I want to recognize the impact this decision has on the lives of those individuals. And I want all of you to know that the entire leadership team and I are dedicated to helping our colleagues during this transition and ensuring that they are treated with the care and respect they deserve.
“If your role is directly impacted by this decision, you will receive a calendar invitation within the next hour for a meeting with a leader from your team and a representative from our Global Talent Organization (GTO),” he said.
According to him, the company is making meaningful progress in creating economic opportunities for its members and customers and experiencing record engagement on the platform.
“We’re also seeing shifts in customer behaviour and slower revenue growth. In an evolving market, we must continuously have the conviction to adapt our strategy in order to make our vision a reality.
“Becoming more agile: with the market and customer demand fluctuating more, and to serve emerging and growth markets more effectively, we are expanding the use of vendors. We are also removing layers, reducing management roles and broadening responsibilities to make decisions more quickly,” he added.
While these decisions are essential for its business, Mr Roslansky said the company’s employees will be leaving LinkedIn for new opportunities.
“We are committed to providing our full support to those impacted. U.S. benefit-eligible employees will receive a variety of benefits including severance pay, continuing health coverage, and career transition services.”
He added that benefits for employees outside the U.S. will align with the employment laws and local practices in each country.
“For both our GBO and China employees, we have an internal mobility process for impacted team members to help find a new role if there’s a skill fit.
“As we turn 20, we are entering a new decade for LinkedIn, one that will perhaps be the most consequential we’ve experienced to date.
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“AI is just beginning to accelerate changes in the global economy and labour market, and LinkedIn is more essential than ever to help our members and customers navigate the changes to access economic opportunity,” he said.
LinkedIn is the latest technology company to lay off its employees in a new wave of massive layoffs in the tech industry in which employees of Twitter, Facebook, Amazon, IT group Salesforce, Microsoft, Google, eBay, PayPal and Jumia have been affected.
