The professional networking website “is not immune to the effects of the global pandemic,” CEO Ryan Roslansky wrote in a note to staff publicly posted on the platform. He added that the company has been hurt “since fewer companies, including ours, need to hire at the same volume as before.”
“I want you to know that these are the only layoffs we are planning,” Roslansky wrote, adding that the cuts would affect global sales and the talent acquisition units of LinkedIn.
In the United States alone, at least 3.7 million jobs have disappeared as a result of the pandemic. Many of the top tech companies have avoided the consequences of the consequences, as global home work requirements create increased demand for their products. But LinkedIn’s business model revolves around helping people find jobs, connect with other professionals, and develop their resumes, all features that have lost value as companies reduce workers and freeze hiring.
Roslansky, who was named CEO in June after previously serving as a senior vice president, said the laid-off staff would be offered a minimum of 10 weeks of severance pay. US employees will receive health insurance for next year. He also said that the company could place some employees in newly created roles.
“It is painful to go through as an organization, but a company with a vision as bold as ours will have to make difficult decisions,” Roslansky said.
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