Hiring slows down: LinkedIn lists only 3 Job-Openings this Week as Microsoft Halts the Hiring process

Microsoft owned LinkedIn conducted a study in India and revealed on Monday that a quarter of the working population (25%) have reported a dip in their income, while 39% of the population reported a dip in their personal savings. These were concluded as the result of the on-going Coronavirus pandemic. Indians, are most concerned about the short term job opportunities and the financial situation management, says the survey.

This survey was mainly conducted after the tech giant Microsoft saw a 46% drop in its hiring activities. According to data compiled by alternative data platform Thinknum, the tech giant listed 5,580 openings on March 22. They further reported that the slowdown can be felt across the board in Microsoft.

LinkedIn, the web platform reported, “By April 20, that number sunk to 3,028, a 46% drop in hiring activity."

Adding to this, LinkedIn faces a huge challenge as its revenue is generated through job listings and companies are not opting to hire due to the losses incurred in the past few months. After having 510 job openings on March 01, the web platform revealed, "Microsoft-owned career website LinkedIn has seen an even starker drop in hiring. As of this week, LinkedIn shows only 3 openings for its entire business."

Apart from Microsoft, Google is also not hiring this year. The company hired more than 20,000 employees last year and was previously planning on hiring employees to that magnitude. In an internal memo, Alphabet and Google CEO Sundar Pichai emphasised on the importance of slowing down the process of hiring, "while maintaining momentum in a small number of strategic areas where users and businesses rely on Google for ongoing support, and where our growth is critical to their success."

This trend, however, is a growing cause for concern in the country.