Microsoft-owned LinkedIn has turn out to be a go-to platform globally for individuals who have been currently sacked by large conglomerates equivalent to Amazon, Facebook’s Meta, Twitter, and Uber amongst others, with some affected customers forming teams to supply help to others, as per an IANS report.
“One LinkedIn group of employees affected by the November layoffs at Facebook-parent Meta, for example, now has more than 200 members,” the news company mentioned in a report quoting CNN.
“A group of Twitter employees created a spreadsheet of laid-off workers from the company alongside recruiters hiring for other firms, and used LinkedIn to help facilitate sign-ups,” mentioned the report.
Even employers have turned to LinkedIn, to elucidate their choices, and even search recommendation.
Globally, the cellular utility of LinkedIn was downloaded an estimated 58.4 million instances in 2022 throughout Google Play Store and Apple App Stores — up 10 per cent from 2021, as per market analysis agency Sensor Tower.
CNN’s report acknowledged that “open to work” posts on LinkedIn have been up 22 per cent in November in opposition to the identical interval in 2021.
This has additionally resulted in hefty income for LinkedIn. The Microsoft-owned platform posted 17 per cent year-over-year income progress within the September quarter.
Corroborating this, Microsoft’s Chairman and CEO Satya Nadella mentioned within the earnings name that LinkedIn was witnessing a “record engagement” amongst its 875 million members.
Amid international macroeconomic situations and recession fears, 1000’s of techies proceed to lose jobs at large tech corporations. And most of this laid off workforce is discovering it troublesome to get employed as there’s a freeze on new hirings at practically each prime agency, the IANS report additionally identified.
Meanwhile, Fortune on Sunday reported that international monetary providers firm Goldman Sachs is ready to put off about 4,000 workers beginning this week.