Microsoft’s LinkedIn, a platform that lets users connect with recruiters (and vice versa) to find new jobs, has joined the layoff bandwagon. As per reports, the company is laying off employees from its recruiting team. Having said that, the report did not mention the number of employees impacted by the layoffs.
The report however confirmed that employees have been handed over notice. LinkedIn had a few months ago announced a freeze on hiring.
The layoffs come as a part of Microsoft’s plan to cut down about 10,000 employees or 5 percent of its workforce across various verticals over the course of this quarter.
“We will align our cost structure with our revenue and where we see customer demand. Today, we are making changes that will result in the reduction of our overall workforce by 10,000 jobs through the end of FY23 Q3. This represents less than 5 percent of our total employee base,” Microsoft CEO Satya Nadella said announcing the layoffs in January. He however mentioned that the company would continue to hire in key strategic areas.
Last week, a separate report stated that other Microsoft-owned entities, such as HoloLens and Xbox, are also cutting jobs as a part of a larger restructuring plan.
Microsoft the parent company of LinkedIn has already cut down its headcount in several divisions like Azure, metaverse, and gaming.
Over the last few months, mass layoffs have impacted several companies from the tech industry. Right from Google which fired over 12,000 employees to Amazon layoffs that impacted over 18,000 people, the tech sector has been through a rough patch.