![]() Simply put, what we do matters, and matters more than ever. That’s why I’m here and why I can’t imagine doing any other job. I’ve said it on multiple occasions and believe it even more so every day: creating economic opportunity will be the defining issue of our time. Whether it’s worker displacement, the skills gap, youth unemployment, or socio-economic stratification, the impact on society will be staggering. In the last three weeks alone, Foxconn announced it will replace 60,000 factory workers with robots, a former CEO of McDonald’s said given rising wages, the same would happen throughout their franchises, Walmart announced plans to start testing drones in its warehouses, and Elon Musk predicted fully autonomous car technology would arrive within two years. Remember that dystopian view of the future in which technology displaces millions of people from their jobs? It’s happening. While this has always been top of mind for me, it’s never been more so than now. Regardless of the ups and downs, we’ve come out the other side knowing beyond a shadow of a doubt, this is the best thing for our company.Įvery day I come to work, I’m primarily guided by two things:įirst, realizing our mission and vision. Every member of the exec team has experienced the same, but we’ve had months to process. You might feel a sense of excitement, fear, sadness, or some combination of all of those emotions. No matter what you’re feeling now, give yourself some time to process the news. Today’s announcement, that LinkedIn will be combining forces with Microsoft, marks the next step in our journey together, the next stepping stone toward realizing our mission and vision, and in remaining CEO of the company, the next chapter in the greatest professional experience of my life. Our team has grown from 338 people to over 10,000, our membership from 32M to over 433M and our revenue from $78M to over $3 billion.ĭespite those accomplishments, we’ve only just begun to realize our full potential and purpose: Our mission to connect the world’s professionals to make them more productive and successful, and our vision to create economic opportunity for every member of the global workforce. Never in my wildest dreams, could I have imagined what would happen in the next 7½ years. My rationale for joining LinkedIn was simple: The opportunity to work with Reid Hoffman, a founder I greatly admired and respected to join an extremely talented and dedicated team and to massively scale LinkedIn’s membership and business, both of which had the potential to fundamentally transform the way the world connects to opportunity. Amazon and Meta both unveiled new rounds of cuts in March.See Weiner’s full letter below, which the CEO posted to LinkedIn on Monday:ĭecember 15th, 2008, marked the first day of the best job I’ve ever had. ![]() Nearly half of those cuts came in the months of November and December, led by massive reductions at Amazon, which cut 10,000 employees, and Facebook and Instagram parent company Meta, which cut 11,000 employees. Employers feared high inflation and multiple rounds of interest rate hikes by the Federal Reserve could throw the economy into recession. companies between June and December, according to Forbes’ tracker. ![]() employees affected by cuts at more than 120 large U.S. companies ranging from tech startups to manufacturers, retailers and banks conducted a series of major layoffs last summer-with nearly 125,000 U.S. ![]() labor market still managed to add 236,000 jobs in the month of March while the unemployment rate dropped to 3.5% from 3.6% in February, according to Labor Department data-though it was the smallest increase in total employment since December 2020, sparking fears among economists that a recession could be under way. Contraĭespite massive layoffs continuing at many large companies over the first few months of 2023, the U.S. layoffs over the first three months of 2023-more than the previous two fiscal quarters combined, led by massive head count reductions at Amazon, Google, Meta and Microsoft, according to Forbes’ tracker. That’s how many employees were cut in major U.S. April 3 Hyland Software, the developer behind process management software OnBase, announced plans to cut 1,000 employees-roughly a fifth of its workforce-and reassess job responsibilities, as CEO Bill Priemer said the Ohio tech company “did not anticipate the degree to which inflation, rising interest rates and wage increases would impact our expenses.” Big Numberġ36,000. ![]()
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