LinkedIn Layoff Starts: Microsoft owned, the world’s largest professional networking site LinkedIn announced that it would cut about 960 jobs or 6% of its global workforce due to the COVID-19 pandemic.
LinkedIn CEO Ryan Roslansky said, “I want you to know these are the only layoffs we are planning.”
Before you read about 3 Simple Lessons to learn in the Layoff season, let’s take a look at this Layoff:
What caused a Layoff for such a big company like LinkedIn?
As per LinkedIn, these job cuts are due to reduced demand for LinkedIn’s recruitment products resulting from the COVID-19 pandemic.
How many LinkedIn employees are impacted by this Layoff?
This Layoff impacts total of 960 employees or 6% of total employee headcount.
Which locations are impacted by this Layoff? Any specific country or region?
The LinkedIn layoff will impact globally; Job cut is not based on a specific location, but rather on the skills and particular group.
As per the CEO, employees from North America, Brazil, and parts of APAC (Asia-Pacific) will be with the company till August 21; employees from Ireland, the UK, Australia, France, Sweden, and Spain will learn more about in August while Italy employees will learn in September.
Which group or Unit is impacted?
Jobs will be cut mainly in sales and hiring division of the group globally. These departments in LinkedIn are known as global sales and talent acquisition organizations (GSO and GTO).
Is there any severance pay or any other benefits?
Yes, there are three:
- The company will provide at least ten weeks of severance pay.
- Health insurance for a year.
- Laid-off staff can search for internal roles and will be given the preference before their last working day.
As reported by Business Insider, LinkedIn said employees affected by its job cuts would be informed this week.
Even though you may not be the LinkedIn employee who is laid-off, there are some basic lessons you can learn from this Layoff that applies universally.
3 lessons to learn from LinkedIn Layoff in this layoff season
- Whether you work for a large company or a small company, it really does not matter. The demand for your skills and need of the relevant department of the company where you work plays a crucial role in Layoff during any crisis.
- Networking is essential, especially during the layoff season; many employees have some days before their last working day. If you have a great connection, you can find an internal job.
- Always have multiple skills on hand; point #2 above applies only when you have various skills. During Layoff, many employees are on the same boat, and having knowledge and skills in multiple areas can help you get a job sooner.
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