LinkedIn is laying off nearly 1,000 employees worldwide as the company deals with the strain the pandemic has put on job recruitment services.
On Tuesday, LinkedIn CEO Ryan Roslansky penned an open letter to employees about the upcoming changes. Nine hundred sixty jobs, or about 6% of LinkedIn's global workforce, will be cut from its sales and talent acquisition departments.
Roslanksy said: "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."
Amid the coronavirus pandemic, the job market has suffered as companies have been forced to impose layoffs, furloughs and hiring freezes. More than 51 million Americans have filed for unemployment benefits since the pandemic began.
LinkedIn, a job opportunity platform for both employees and recruiters, says it needs to adapt to match the current needs of businesses.
The company will offer laid-off employees a minimum of 10 weeks severance pay, one year of paid health care for U.S. employees and six months of "career transition assistance." Roslansky said it will also help affected employees "explore" any new roles created within LinkedIn.