LinkedIn has agreed not to layoffs related to COVID until at least June 2020, the professional network TechCrunch has confirmed. While the promise is only valid until the end of the fiscal year, Salesforce CEO Marc Benioff said last month that there were no significant layoffs for the next 90 days.
Other business leaders such as Brian Moynihan, CEO of Bank of America and James Stanman, CEO of Morgan Stanley, have also agreed to suspend layoffs by the end of 2020.
Layoffs are spread across all industries, from the hotel and travel industries to recruiting startups and scooter companies. Microsoft's LinkedIn, which serves as a social media platform for professionals and recruiters, is therefore an important connector for the dismissed.
Regardless of how well LinkedIn appears in the news, it is not immune to specific cost-saving measures if the economy gets into trouble. The company, reports The Information "stopped most of its hiring to find out the business plan". According to the play, it had more than 1 million applicants last year.