Microsoft to cut 960 jobs at LinkedIn as recruitment struggles

Tech giant Microsoft is cutting nearly a thousand jobs at LinkedIn as the impact of the Covid-19 outbreak on the global jobs market was laid bare.

The professional networking site making a significant portion of its revenues from recruitment products, but with millions suddenly out of work across the globe, prospects in this market look bleak.

Microsoft, which bought Linkedin for $26.2 billlion in June, plans to cut 960 jobs or 6% of the global workforce at California based LinkedIn, which has a London office in Farringdon.

The company helps employers assess a candidate’s suitability for a role and employees use the platform to find new job.

Jobs will be cut across sales and hiring divisions of the group globally.

Chief Executive Ryan Roslansky said the company would provide at least 10 weeks of severance pay as well as health insurance for a year for US employees, and will hire for newly-created roles from laid-off staff.

“I want you to know these are the only layoffs we are planning,” Roslansky said in a message on LinkedIn.

LinkedIn said employees affected by its job cuts will be informed this week and they will start receiving invitations today to receive more information.

“If you don’t receive a meeting invite, you are not directly impacted by this change,” Roslansky said.