Layoffs 2023: This Microsoft-owned company has announced layoffs. This will affect hundreds of employees around the world.
LinkedIn Layoffs: The recession in America and Europe is affecting the jobs of the tech sector the most. In the recent past, many companies like Google Layoffs, Meta Layoffs, Amazon Layoffs, Twitter Layoffs etc. have laid off employees on a large scale (Layoff News).
Now the name of LinkedIn, a company owned by Microsoft Corporation, has also been added to this list. LinkedIn Layoffs, the social media site for business professionals, has announced layoffs of 716 employees. Along with this, the company has also told that it is going to shut down its Chinese job application app as well.
Even after the increase in earnings, it was decided to retrench
Significantly, a total of more than 20,000 employees work in LinkedIn. The company’s earnings have registered an increase in every quarter last year. In such a situation, even after the increase in profit, the decision of retrenchment is surprising. According to Reuters report, LinkedIn has decided to lay off employees in view of the global situation.
CEO said this
LinkedIn Chief Executive Officer Ryan Roslansky has sent an email to employees informing that in the changing environment, we have made major changes to our Global Business Organization (GBO) and have decided to discontinue the Chinese job application. After this, the jobs of a total of 716 people of the company are going to be affected. He told that there will be retrenchment in the sales, operation and support team so that any decision can be taken faster.
250 people will be given jobs
Apart from the retrenchment, the CEO has also given information about the new job. He has said that after the changes made in the company, a total of 250 jobs will be created. In such a situation, the employees who have been retrenched can also apply for these posts. The company has decided to completely shut down the operations of its Chinese job application app InCareer by August 9, 2023. CEO Roslansky said that initially InCareer achieved some great success, but in this changing global environment, it is beneficial for LinkedIn to discontinue this app.
Employees who are victims of retrenchment will get help
The company has made it clear that various types of compensation will be given to the employees who have been retrenched in America. This includes facilities like 3 months salary, health insurance and career transition service. At the same time, people affected outside America will be given different facilities according to the rules and regulations of that country.
