Microsoft's LinkedIn has become the latest tech company to be hit with layoffs. The employment-focused social media platform LinkedIn has reportedly laid off employees from its recruitment department.
According to a report, LinkedIn has laid off staff in its recruiting department on Monday. Having said that, the report did not mention the number of employees impacted by the layoffs.
This comes soon after Microsoft's decision to lay off its workforce. In January 2023, Windows maker Microsoft had announced its decision to fire 10,000 employees, which is around 5 per cent of its total workforce.
"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 US-benefit-eligible employees will receive a variety of benefits, including above-market severance pay, continuing healthcare coverage for six months, continued vesting of stock awards for six months, career transition services, and 60 days' notice prior to termination, regardless of whether such notice is legally required.
Benefits for employees outside the US will align with the employment laws in each country, Nadella mentioned.
Source: Business Today