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. The number of people applying for unemployment aid has remained stubbornly high in the past several weeks, a sign that many businesses are still shedding jobs and clouding the outlook for jobs. The overall U.S. unemployment rate in May was 13.3%, a decline from 14.7% in April, according to the Labor Department.
In a note to employees at the professional networking site, CEO Ryan Roslansky said that the job cuts will hit global sales and hiring sections of the company. He said no further layoffs are planned.
LinkedIn employees in the U.S. will receive at least 10 weeks of severance pay and a year of continuing health coverage through COBRA. Those being laid off will continue in their roles through Aug. 21.
The company, which is owned my Microsoft, is based in Sunnyvale, California.
California governor signs law to protect children from social media addiction
California will make it illegal for social media platforms to knowingly provide addictive feeds to children without parental consent beginning in 2027 under a new law Democratic Gov. Gavin Newsom signed Friday.
California follows New York state, which passed a law earlier this year allowing parents to block their kids from getting social media posts suggested by a platform's algorithm. Utah has passed laws in recent years aimed at limiting children's access to social media, but they have faced challenges in court.
The California law will take effect in a state home to some of the largest technology companies in the world. Similar proposals have failed to pass in recent years, but Newsom signed a first-in-the-nation law in 2022 barring online platforms from using users' personal information in ways that could harm children. It is part of a growing push in states across the country to try to address the impacts of social media on the well-being of children.
"Every parent knows the harm social media addiction can inflict on their children — isolation from human contact, stress and anxiety, and endless hours wasted late into the night," Newsom said in a statement. "With this bill, California is helping protect children and teenagers from purposely designed features that feed these destructive habits."
The law bans platforms from sending notifications without permission from parents to minors between 12 a.m. and 6 a.m., and between 8 a.m. and 3 p.m. on weekdays from September through May, when children are typically in school. The legislation also makes platforms set children's accounts to private by default.
Opponents of the legislation say it could inadvertently prevent adults from accessing content if they cannot verify their... Read More