LinkedIn will lay off approximately 960 employees, or roughly 6% of its workforce, across its global sales and talent acquisition areas, CEO Ryan Roslansky revealed in an email to employees, which was shared publicly.
He stressed that these are the only layoffs the company is planning.
Roslansky said some roles in its global sales organization are no longer needed as LinkedIn evolves the ways that it works with talent media customers and small businesses, adding that the company will unify its currently separate talent media businesses within LinkedIn Marketing Solutions and LinkedIn Talent Solutions in order to avoid duplicating costly platforms, systems and tools internally.
Serving small businesses is also shifting to online from a field sales team.
Roslansky also cited Covid-19’s impact on hiring, again noting that certain roles within its global sales and global talent organizations are no longer needed due to lower demand for both internal hiring and talent products globally.
He added that fairness, consistency and compliance were emphasized throughout the difficult process, as well as the company’s commitment to diversity, and he detailed steps that will be taken to aid affected employees, including a minimum of 10 weeks of severance pay, as well as 12 months of continuing health insurance through COBRA.
LinkedIn also created a six-month offering, Momentum, to help displaced employees find their next roles, including one-on-one coaching, workshops and LinkedIn Learning courses on topics such as interview preparation, compensations fundamentals, job search strategies and integrating into new roles.
Affected employees will have the opportunity to keep company-issued smartphones, laptops and other equipment, and the LinkedIn global immigration team will provide personalized support to those on company-sponsored visas, as well as pay for one-on-one consultations with external immigration legal advisors.
Finally, Roslansky said that as LinkedIn begins hiring for newly created roles within the company, it will work with those affected by the current cuts to explore those opportunities.
He wrote, “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. To continue adapting and accelerating the company like we have been, we need to ensure that we are focusing our efforts and resources against our most strategic priorities to set up the company for success today—and well into the future. When we took a hard look at the business, we decided we needed to make some hard calls.”
He concluded, “As I said above, this is the only reduction we’re planning. This is painful to go through as an organization, but a company with a vision as bold as ours will have to make difficult decisions. And since our vision is more important than it ever has been given all that’s going on in the world, I’m confident we’ll emerge more resilient and stronger than ever.”