LinkedIn laying off nearly 1,000 amid hiring slowdownhttps://www.sfgate.com/business/article/LinkedIn-laying-off-nearly-1-000-amid-hiring-15422429.phpNEW YORK (AP) — LinkedIn is laying off nearly 1,000 employees, approximately 6% of its workforce globally, with unemployment in the U.S. above 13% and national economies from Europe and Asia, to the Americas, shrinking due to the pandemic.
The outbreak has disrupted commerce globally, closing thousands of businesses while forcing others to furlough large numbers of employees as they await a recovery. Hiring has slowed dramatically.
I guess the shrinkage of the UE rate, to date, has largely been people being rehired or de-furloughed, while recruiting for new jobs is still slack.