LinkedIn has become the latest company to announce job cuts due to the coronavirus pandemic. The company said today will lay off about 960 jobs -- roughly 6% of its global workforce.
The professional networking website "is not immune to the effects of the global pandemic," CEO Ryan Roslansky wrote in a note to staff posted publicly on the platform. He added that the company has been hurt "as fewer companies, including ours, need to hire at the same volume they did previously."
"I want you to know these are the only layoffs we are planning," Roslansky wrote, adding that the cuts would affect LinkedIn's global sales and talent acquisition units.
In the United States alone at least 3.7 million jobs have disappeared as a result of the pandemic. Many major tech companies have avoided the brunt of the fallout, as worldwide work-from-home requirements create more demand for their products. But LinkedIn's business model revolves around helping people search for jobs, connect with other professionals and build their resumes -- all features that have lost value as companies cut workers and freeze hiring.