LinkedIn Sacks Recruitment Staff Across The World
GLOBAL – LinkedIn recently dismissed a portion of its global recruitment staff after hiring slowed amidst weakening growth in the wider tech sector, reported The Straits Times on Thursday afternoon (16 February, SGT).
However, the employment-focused social media platform refused to reveal how many employees were let go at its Asia Pacific headquarters in Singapore’s Marina Bay Financial Centre (MBFC).
“With this reduced need for hiring, we’ve made the difficult decision to reduce the size of our global talent acquisition team,” a representative told the news outlet on Thursday
The job cuts are part of the larger rationalisation exercise at parent company Microsoft, which announced in January 2023 that it plans to axe around 5 percent (10,000 staff) of its global labour force.
This comes after a 12 percent year-on-year fall in net earnings in the fiscal second quarter because of a global slowdown following the rapid growth during the COVID-19 pandemic.
Meanwhile, Deliveroo’s CEO Will Shu announced last week that it intends to lay off 300 to 500 jobs, which translates to around 9 percent of its global workforce.
While the layoffs will be concentrated at the food delivery platform’s London headquarters, a spokesperson refused to disclose if any Singapore staff will be impacted.
Another tech company that would reduce its headcount is Yahoo, which stated last week that it plans to slash 12 percent of its global labour force or around 1,000 roles, but a Yahoo spokesperson hadn’t yet responded whether its Singapore office will be affected
Yahoo’s move marks the 1st round of job layoffs amidst a bigger plan to restructure its advertising tech arm, which will ultimately see staff number reduced by 50 percent by the end of this year, making up over 20 percent of the tech firm’s overall workforce.