On Tuesday, the professional networking site Linkedin slashes 960 jobs globally. This is 6% of its total workforce. The major reason for this is because of the effect of coronavirus
The company is part of Microsoft which has around 1200 employees in India. It also has a development center in Bangalore. Although the company did not comment on this job cuts
In a note to his employees, the CEO of Linkedin says that the company has taken a difficult decision to slash 960 jobs. These are the only layoffs the company has been planning according to him.
He also adds that the coronavirus is having quite an impact on the company and especially hiring. He says that the employees who are affected due to these job cuts will be with the company for some time. The employees in NorthAmerica, Brazil region will work with them until August. Employees in Dubai will work until September.
A company’s spokesperson says that the employees in Europe will soon find out about the impact of this. LinkedIn also says that the company will give a minimum of 10 weeks severance pay to its fired employees.
The global immigration team will also provide personalized support to the employees who are on sponsored visas.
An announcement was made recently that there will be no salary appraisals for HCL employees in 2020. Although this is not positive news, on the bright side the company is planning to hire. This year, the company is planning to add 15,000 freshers to its workforce
The reason for the no appraisals is due to the coronavirus. The impact of coronavirus has led to economic loss and slowdown. The CFO of HCL, while announcing the Q1 results, announces that there will be no hikes this year
The company has registered an increase in profit this quarter by 32% than in the same quarter last year.
Based on the demand and attrition rate, the company wants to hire freshers. The company is also looking to add lateral hires as well. In Q1 of 2020-21 HCL hires 2000 laterals and 1000 freshers.
The offer letters are already sent to 15000 freshers and 1000 of them are already on board. Currently, there are 150287 employees working at HCL. The attrition rate of the company is at 14.6%
Some of the peers of HCL, like Infosys, hired 5000 laterals and plans to hire 20000 freshers this year. For the same period, Wipro hired 7000 laterals. Starting from August, Wipro plans to hire freshers.