Microsoft-owned professional networking platform LinkedIn is laying off its employees due to the global meltdown. The laid-off employees will be from its global events marketing team.
The Insider report said “LinkedIn has laid off “all the employees on the professional social network’s global events marketing team amid continued economic uncertainty“
The affected employees are being encouraged to apply for roles on a new internal team focused on creating a virtual, hybrid, and in-person experiences, the report mentioned.
The company didn’t specify the number of employees affected, but a spokesperson said they are being encouraged to apply for roles on a new team focused on creating hybrid, in-person and virtual experiences.
Its parent company Microsoft, which laid off 1 percent or 1,800 employees in July, asked around 200 more employees to go, this time from one of its customer-focused R&D projects. Microsoft has also slowed hiring in the Windows, Teams, and Office groups. “
Around 200 employees on the Modern Life Experiences team have been told to find another position at the company within 60 days, or take severance,” the report claimed.
Last month, Satya Nadella-run Microsoft became the first tech giant to lay off employees as part of a “realignment”.
There are many reports which are indicating that the US economy might tip into a recession by the end of 2022 or early 2023. These concerns intensified when IMF warned that the world could soon be on the brink of a global recession.
The tech companies that have either laid off employees or slowed hiring in the current economic downturn include Google, Meta, Oracle, Twitter, Nvidia, Snap, Uber, Spotify, Intel, and Salesforce, among others.
