Microsoft's social-media-for-suits platform, LinkedIn, is to axe 960 roles as it makes "strategic changes" to "accelerate the vision of the company".
Employees around the world will be affected by these strategic changes, which will hit the company's Global Sales and Talent Acquisitions organisations, according to CEO Ryan Roslansky.
Wringing his hands at the impact of the global pandemic, Roslansky told staffers that that LinkedIn's "Talent Solutions" business would be hosed with the pink-slip cannon because, put simply, companies (including LinkedIn) weren't hiring at the volumes seen in recent years.
The not-hiring bit will be worrying for the LinkedIn employees about to be given their marching orders as they anxiously wait to see if the meeting invite to "learn more about next steps" drops into their inbox.
As well due as the impact of COVID-19, Roslansky also insisted that "to service small businesses better", a move from a field sales team approach to an online portal was needed. Field sales' focus could then be turned to the company's "higher value relationships".
In Microsoft's last annual report, LinkedIn revenue jumped 28 per cent year-on-year. The company will publish fiscal year 2020 fourth-quarter financial results after the close of the market tomorrow.
Acquired by the Windows giant in 2016 for an eye-popping $26.2bn, LinkedIn did some acquiring of its own, picking up Glint in 2018. The human resources outfit produced software to help employers understand why employees were leaving.
Because LinkedIn has deemed them surplus to requirements, perhaps?
Big daddy Microsoft has been a bit axe-happy recently. Roles, including some from its online MSN news portal, were cut, according to reports last week. Redmond also announced in June that its retail stores would be shuttered and it would be taking a pre-tax charge of approximately $450m to do the deed - those numbers will show up in tomorrow's report for Q4 ending 30 June 2020.
Affected employees will get at least 10 weeks of severance pay and those eligible will receive a payment in lieu of FY20 bonuses. The company will also generously pop those departing the organisation on LinkedIn Learning courses aimed at "integrating into a new role" as part of a six-month Momentum package.
Some may also find new roles within LinkedIn. ®