Key Points
LinkedIn said on Monday it would lay off 668 employees across its engineering, talent and finance teams in the second round of job cuts this year for the social media network for professionals as demand for hiring services slows...
The cuts, which affect more than 3% of the 20,000-strong staff, add to the tens of thousands of job losses this year in the technology sector amid an uncertain economic outlook...
The sector has laid off 141,516 employees in the first half of the year compared with about 6,000 a year ago, according to employment firm Challenger, Gray & Christmas...
LinkedIn makes money through ad sales and by charging for subscriptions to recruiting and sales professionals who use the network to find suitable job candidates...
The social media network had in May decided to cut 716 jobs across sales, operations and support teams to streamline its operations and remove layers to help make quicker decisions...
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LinkedIn lays off 668 employees in second round of job cuts this year
16, Oct, 23Microsoft-owned LinkedIn laid off more than 500 employees, including engineers, on Monday in its second round of job cuts this year as the social media network grapples with a slowdown in hiring, a person familiar with the matter said.
IT sector slowdown's impact being seen in overall white-collar job market
08, Feb, 24The number of open positions in the IT services sector stood at 50,000 at the end of January, down 21% from a year ago and over 60% from two years ago, according to data from LinkedIn and other top job boards put together by specialist staffing firm Xpheno.
Good news for IT sector job seekers! Hiring mandates up 50% in February; staffing firms see actual increase in second half of calendar year
27, Mar, 24India Business News: In February, hiring mandates for IT professionals reached 124,000, a significant 50% increase from January and 33% higher than December, according to
Demand for talent in India’s IT sector falls, hiring at three-year low in May
04, Jun, 23Weak macroeconomics, slowing demand, falling client addition prompting firms in technology cohort to put the brakes on hiring
Demand for white-collar talent up 5% in June as non-tech hiring picks up
05, Jul, 23Even as the core sector is showing positive hiring sentiment, talent demand in the Indian IT services sector, which has some of the biggest employers, fell to its lowest level since December 2020 - down 56% from a year earlier and 4% sequentially, according to data collated by specialist staffing firm Xpheno from LinkedIn and other top company job boards.
India's services growth defies inflation pressures but falls to 61.2 in May from 62 in April
07, Jun, 23The services sector accounts for more than 50% of India's GDP. Asia's third-largest economy expanded 6.1% in the March quarter, one of the fastest-growing emerging markets.
Pune techie clicks on social media ad, ends up losing over Rs 17 lakh
22, Dec, 23A 34-year-old techie from Pune clicked on a social media ad in hopes of making some extra money. However, he fell prey to an online scam and ended up losing over Rs 17 lakh.
IT services majors may recruit 40% less in FY24
07, Aug, 23IT services majors are estimated to hire between 50,000 to 100,000 employees during fiscal 2024, according to data from staffing firm Xpheno, a precipitous decline from the net hiring of over 250,000 by these companies in the previous year.
Domestic factors keep India's white-collar job market resilient despite overall slowdown in job creation
16, Apr, 23Companies in sectors including manufacturing, BFSI (banking, financial services and insurance), oil & gas, real estate & construction, auto & auto ancillary, FMCG (fast-moving consumer goods), retail, electric vehicles (EV), telecom, and travel & hospitality are looking to hire this quarter, experts said. Interestingly, while IT/ITeS and startups have seen a sharp comedown from last year's hiring frenzy, tech talent continues to be the most in demand as non-tech industries are undergoing a digital transformation.
Paytm rivals fishing for top talent in its troubled waters
06, Feb, 24According to executives at recruitment services firms, Paytms competitors are keen on hiring employees in tech and sales teams and have started sending feelers. However, there are few takers for the legal and compliance professionals, especially at the senior and mid levels.