LinkedIn to cut jobs in global recruiting

The site currently employs over 2,000 people in Ireland with its European headquarters in Dublin 

LinkedIn's announcement follows that of its parent company, Microsoft, who last week revealed that they would be cutting 120 jobs from their Irish workforce

Professional networking site, LinkedIn has announced layoffs to its global recruitment team following a downfall in hiring needs.

It is the latest company to join the running list of tech companies to cut jobs following a slowdown in business activity.

In a statement given to the Irish Examiner, a spokesperson for LinkedIn said that while hiring has continued for strategic roles with the greatest impact, it is no longer at the same pace.

"With this reduced need for hiring, we’ve made the difficult decision to reduce the size of our global Talent Acquisition team. We are focused on supporting those impacted through this transition and in line with local practices," the spokesperson continued.

LinkedIn's European headquarters in Dublin currently employs over 2,000 people, many of whom work in recruiting and talent acquisition where the layoffs are scheduled.

The spokesperson declined to comment on how many of LinkedIn's 19,000 staff would be reduced from their global headcount.

LinkedIn's announcement follows that of its parent company, Microsoft, who last week revealed that they would be cutting 120 jobs from their Irish workforce of 3,500, in line with plans to reduce their global employee headcount by 10,000.

Speaking at the time of the announcement, Microsoft CEO, Satya Nadella said their cost reduction plan came down to further caution among consumers who want to "optimise their digital spend to do more with less."

LinkedIn follows other companies including Spotify, Salesforce, Meta, Stryker and Twitter that have cut their Irish workforce after reporting overestimated performance forecasts, reigniting fears for the future of the country's tech sector.

Despite these mass layoffs, a new analysis from the European Commission says that Ireland's labour market "remains resilient" with the report forecasting Ireland to have the highest GDP growth in the EU in 2023, expecting it to rise by just under 5%.