LinkedIn, a Microsoft company, has just joined the list of technology companies undergoing layoffs. Employees from the recruitment department of the vocationally social media platform LinkedIn have reportedly been let go.
The Information, a news source, has reported that LinkedIn fired workers from its recruiting department on Monday. Having said that, the report omitted to state how many workers were affected by the layoffs.
This has just happened after Microsoft decided to reduce its workforce. Microsoft, the company that makes Windows, stated in January 2023 that it will let go 10,000 employees, or about 5% of its whole staff.
“We will align our cost structure with our revenue and where we see customer demand. Today, we are making changes that will result in the reduction of our overall workforce by 10,000 jobs through the end of FY23 Q3. This represents less than 5 per cent of our total employee base,” Microsoft CEO Satya Nadella said.
Nadella mentioned that the company will continue to hire in key strategic areas.
“We are committed to ensuring all those whose roles are eliminated have our full support during these transitions,” he said, adding that employees who meet the criteria for US benefits will receive a range of benefits, such as above-market severance pay, continued healthcare coverage for six months, continued stock award vesting for six months, career transition services, and 60 days’ notice prior to termination, whether or not such notice is legally required.
According to Nadella, benefits for employees outside the US will comply with local labour laws in each nation.
Numerous tech companies have experienced mass layoffs during the past few months. The tech industry has seen a difficult period, with layoffs at Google affecting over 12,000 people and those at Amazon affecting over 18,000 people.
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