In a company-wide message to staff, LinkedIn CEO Ryan Roslansky said that 960 employees would be let go.
LinkedIn, the international professional network with more than 690m users, has announced plans to let 960 employees go due to the impacts of Covid-19. LinkedIn staff in Ireland are said to be impacted by the decision, though the number of job cuts is not yet known.
In a message from the company’s CEO, Ryan Roslansky, staff were told that “LinkedIn is not immune to the effects of the global pandemic”.
“Our talent solutions business continues to be impacted as fewer companies, including ours, need to hire at the same volume they did previously,” Roslansky’s note said. “I want to focus today specifically on the most challenging decision we’ve made to move forward with our strategy.”
That decision will involve “reducing approximately 960 roles” or about 6pc of LinkedIn’s employee base across its global sales and hiring divisions, Roslansky added.
He said that “these are the only layoffs” LinkedIn is planning and that his team “took extreme care” in coming to the decision, incorporating “consistency and fairness, diversity and compassion”.
What’s next for employees?
Staff members who have been let go will be supported financially, with a minimum of 10 weeks of severance pay. This figure may increase depending on “tenure and country-specific practices”, Roslansky said, and is in addition to a paid notification period that varies by country.
LinkedIn will also continue to pay for 12 additional months of health insurance for employees in the US “to give employees and their families peace of mind during uncertain times”. Staff based in other countries will be offered six months of healthcare continuation or the cash equivalent in group premiums.
The company has developed a six-month programme called Momentum to help employees find their next job. Staff who have been let go will have access to one-to-one mentoring, workshops and LinkedIn Learning courses, as well as an opt-in directory to showcase their skills to potential employers.
All departing staff, Roslansky said, will be able to keep work phones and laptops to help them work from home and change careers, and will be able to apply for newly created roles in “strategic areas for growth” across the company.
Those on company-sponsored visas will receive personalised support from LinkedIn’s global immigration team and one-to-one consultations with external immigration legal advisors, paid for by the company.
Roslansky signed off his company-wide note by thanking those being let go for the “positive impact” they’ve made.
“Please know these changes aren’t a reflection on you or your work at LinkedIn, but rather the result of strategic changes we are making to accelerate the vision of the company,” he said. “You’ve played an important role in building LinkedIn, and I am truly grateful.”
Outside of the US, the company’s largest base is in Ireland, where it employs around 1,200 staff. Before the pandemic, LinkedIn had been expanding its presence in Dublin and last year announced plans to create 800 new jobs in the capital.
The Irish Times reported that the cuts are expected to impact its Irish workforce, but the extent of job losses here is not yet known.