The world is in the midst of companies announcing hiring freezes and layoffs — recently Facebook’s parent company Meta announced that it would lay off 11,000 employees and put in place a hiring freeze. After Musk took charge of Twitter, the company fired 3,000 employees, while Microsoft too carried out a massive layoff exercise, which has affected almost 1,000 employees.

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On the layoff trend Ryan Roslansky, CEO of LinkedIn, which is owned by Microsoft, told CNBC-TV18 that the company is not planning any layoffs but a hiring freeze will soon be seen across some verticals of the company.

“We haven't announced ... any kind of layoffs. We have put ourselves inside of a hiring freeze right now for various parts of the company. But again, like every other leader, we're just continuing to navigate the global strategy that we need to keep the company going to create this platform,” said Roslansky.

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He further added that layoffs come with their own problems but then it’s also good to see how employees turn to LinkedIn to find their next opportunity, they can leverage their network, they can search for jobs, they can upskill themselves on something new, that’s the community that we have built.

Revenue in India is up by 50 percent year-on-year

For the quarter ended September 30, 2022, LinkedIn’s revenue increased 17 percent from the corresponding period a year ago. Roslansky mentioned in terms of growth in India the revenue has climbed 50 percent year-on-year.

“When we take a look at India, it's outpacing that the revenue in India is growing at 50 percent year over year in north of 84 percent year over two year, we're closing in on nearly having 100 million members in India,” he said.

India is the second largest market engaged on LinkedIn, with 97 million users

According to LinkedIn’s website it has 875 million members in more than 200 countries and territories worldwide. Roslansky added that India is the second largest market for the company.

“I've been paying a lot of attention to that global purview, as it relates to a lot of the activity that's happening right now in India, on LinkedIn, it's just fascinating. So our membership in India is over indexing on networking. They're over indexing on skills acquired and learning. They're over indexing on job seeking. In fact, India right now, is the second largest market in terms of engagement on LinkedIn, we have roughly 97 million members,” he said.

Also read: CRED, upGrad, Groww & Zepto are the top startups where Indians want to work: LinkedIn

First Published:Nov 14, 2022 6:00 PM IST