The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Information / Communication Information Service Activities Information Service Activities 63 - Information service activities
960 jobs Number of planned job losses
Announcement Date
21 July 2020
Employment effect (start)
22 July 2020
Foreseen end date
31 December 2020
Description
The business networking site LinkedIn has announced to cut about 960 jobs worldwide. LinkedIn has to cope wit a drop of firms recruiting staff amid the COVID-19 pandemic. The job cuts represent about 6% of the workforce. The job cuts will affect the group's global sales and hiring divisions. Consultation with employees have started in Ireland, in the UK, and in Australia about the potential consequences on their jobs. Employees in other locations would be informed about the impact on them over the coming days and months. At the same time, LinkedIn will invest in other parts of the business which would result in some job creation. LinkedIn may also work with employees impacted by the reorganisation to explore these opportunities.
LinkedIn, owned by Microsoft, has offices in more than 30 cities worldwide and employs 16,000 people.
Eurofound (2020), LinkedIn, Internal restructuring in World, factsheet number 101410, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/101410.
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