According to reports, a business and employment-focused social media platform, LinkedIn will sack employees in the recruitment department.
However, LinkedIn has not commented on the exact number of employees affected by the layoffs.
Recently in January, Global tech giant Microsoft announced that it would sack about 5 percent or 10,000 of its workforce amid a global economic slowdown.
Earlier in October, the company reportedly laid off under 1,000 employees across several divisions. The job cuts impacted less than 1 percent of the company’s workforce. The company hasn’t officially commented on the impending layoffs.
The job cuts are due to Microsoft’s revenue being expected to slow and follow no clear pattern concerning geography or product division.
The move is part of a larger trend of tech companies cutting jobs and slowing hiring as investors become increasingly fearful of a recession.
Over 17,400 Tech Employees got Fired in Feb Globally to date with many workers in India receiving pink slips amid deepening global macroeconomic conditions.
In 2023 so far, around 340 companies have laid off more than 1.10 lakh employees worldwide, and there appears to be no respite from job cuts.
Tech companies have either frozen the hiring process or laid off many employees. The major companies that laid off employees include Infosys, Amazon, Google, Microsoft, Byju’s, Wipro, and Salesforce laid off a maximum number of workers globally.
Earlier in November, Amazon announced that will be layoff 10,000 employees. However, the company further added 8,000 employees, and the total layoffs were announced as 18,000 employees.
On the other hand, Google sacked roughly 12,000 staff and Salesforce laid off 7,000 employees.