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LinkedIn to cut 6pc of its global workforce

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Photo: Chris Radburn/PA

Photo: Chris Radburn/PA

Photo: Chris Radburn/PA

LinkedIn, the online professional network which employs around 2,000 staff in Ireland, is planning to cut 6pc of its global workforce.

LinkedIn said employees affected by the job cuts will be informed this week and they will start receiving invitations in the next few hours to meetings to learn more about the next steps.

"If you don't receive a meeting invite, you are not directly impacted by this change," said LinkedIn CEO Ryan Roslansky.

A 6pc staff headcount reduction in Dublin would mean around 120 job losses.

The platform is used by many companies as a recruiting tool or to generate sales leads. With recruitment slowing as a result of the Covid-19 pandemic, demand is down.

Jobs will go in the company's global sales and talent acquisition departments.

Mr Roslansky announced the move in an email to employees on Monday.

California-based LinkedIn is owned by Microsoft. Its professional version of a social network helps employers assess a candidate's suitability for a role and employees and job seekers can use the platform to find new job.

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In Ireland, LinkedIn's 2,000 employees in central Dublin makes it one of the country's biggest so-called digital economy employers, although it trails well behind Google and Facebook.

Jobs will be cut across sales and hiring divisions of the group globally.

Announcing the plan in a message posted on LinkedIn's website, Mr Roslansky said the company would provide at least 10 weeks of severance pay as well as health insurance for a year for US employees, and will hire for newly-created roles from laid-off staff.

"I want you to know these are the only lay-offs we are planning," Mr Roslansky said in his message.

Affected staff, who have not yet been told, would be able to keep company-issued mobile phones, laptops and recently purchased equipment to help them work from home while making career transitions, he said.

As lockdowns to contain the coronavirus have hit businesses around the world, LinkedIn's business has been hit as companies lay off staff or sharply curtail hiring new employees.

Additional reporting Reuters

Irish Independent