Shillong, May 9: Microsoft-owned job-search portal LinkedIn is set to initiate a round of layoffs in which 716 people will lose their jobs.
According to reports, the company’s most recent round of layoffs will effect the sales, operations, and support departments as it streamlines operations to reduce unnecessary expenditures.
In February, LinkedIn made the first round of layoffs, which mostly affected the recruiting division. About 20,000 people work at the employment website owned by Microsoft. Notably, despite increasing income over the previous two quarters, the company nonetheless chose to lay off employees.
In a letter to staffers, LinkedIn CEO Ryan Roslansky explained that the firm was eliminating roles in order to streamline processes and make decisions more quickly. The message further emphasised that affected employees are welcome to apply and that the company will be creating new opportunities.
According to Roslansky, “We are expanding the use of vendors as the market and customer demand fluctuate more and to better serve emerging and growth markets.”
While the chance to apply for the new position might inspire some employees, LinkedIn might also face criticism for firing them in the first place.