Thanks to COVID, an 'Extremely Difficult Decision' at LinkedIn

Company to lay off 6% of its workforce due to pandemic
By Jenn Gidman,  Newser Staff
Posted Jul 21, 2020 9:25 AM CDT
Thanks to COVID, an 'Extremely Difficult Decision' at LinkedIn
In this June 13, 2016, file photo, the LinkedIn logo appears on a screen on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

An "extremely difficult decision" has been made at LinkedIn, and employees found out about it this week: The company is cutting nearly 1,000 jobs, or 6% of its workforce, the Wall Street Journal reports. "LinkedIn is not immune to the effects of the global pandemic," CEO Ryan Roslansky wrote in a companywide memo to workers on Monday, explaining the cuts will take place across the sales and talent acquisition teams. CNN Business notes that even though many tech companies have been weathering the coronavirus storm, LinkedIn helps people find jobs—and with companies across the nation also laying people off and freezing hiring, that has left LinkedIn floundering.

Affected workers will receive a year of continued health insurance, as well as at least 10 weeks of severance pay. Per CNBC, the memo also notes LinkedIn will try to place let-go workers into newly created roles within the company. Laid-off employees will also get to hold on to company-issued laptops, cellphones, and other equipment to assist them as they look for new jobs. Roslansky, who says affected workers will be informed this week, adds there are no plans for any further layoffs. (More LinkedIn stories.)

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