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LinkedIn: The economy is forcing major corporations to lay off workers, reshaping the job market.
As more people lose their employment, they seek assistance from job postings.
Social media has been a source of hope for many laid off, but LinkedIn stands out.
The platform
The social networking site specifically created for the corporate world is known as LinkedIn.
Users can connect with other experts in the field and develop profiles demonstrating their professional abilities, experience, and education.
LinkedIn also provides recruiting and job searching tools, and it lets businesses create their own accounts and advertise job openings.
It is a valuable resource for individuals wishing to network and advance their careers and organizations trying to find and hire skilled personnel and promote their brands.
Users can communicate updates with their connections on LinkedIn through posts.
The posts can be used to communicate news, articles, insights, and personal updates with one’s professional network and include text, photographs, videos, and other content.
Additionally, companies may utilize LinkedIn postings to interact with their followers and clients while promoting their brands, services, and company cultures.
The shift
Workers who have been laid off have formed groups on the social networking site to support one another.
The organizations help manage the signing of exit documents and aid in making contacts for future employment.
While LinkedIn feeds often feature messages on leadership, professional aspirations, and encouragement, more posts regarding job searches, support, and advice have entered the mix.
Meta let go of many workers in November.
Since then, the organization has grown to include more than 200 people.
The employers who ordered the layoffs are using the platform to defend their decisions and seek assistance or counsel.
A market change
When the pandemic first started, there was a wave of layoffs in retail and service employment, but the most recent wave mostly hit the tech and media sectors, which make up a significant portion of LinkedIn’s user base.
The social networking site has become a lifeline for recently laid-off individuals despite the robust overall labor market.
Downloads and posts
The LinkedIn mobile app was downloaded more than 58.4 million times worldwide in 2022, according to research firm Sensor Tower.
The number of downloads from the Apple App Store and Google Play increased by 10% from 2021.
Comparing November to the same month in 2021, there were 22% more LinkedIn “open to work” posts.
A further indication of increased user activity on LinkedIn was the rate at which users added connections.
Read also: Twitter holds back on severance offer 2 months after layoffs
Platform uptick
In the three months that ended in September, LinkedIn’s revenue increased 17% year over year, according to the most recent earnings report from parent company Microsoft.
CEO Satya Nadella informed analysts that the platform’s 875 million users were engaging with it at historical levels in October.
A pronounced acceleration of growth was seen in international markets.
LinkedIn’s momentum was at its peak before the layoffs, according to Syracuse University associate professor and social media expert Jennifer Grygiel.
“There’s been an uptick in [LinkedIn use] since the pandemic,” she said.
“You had to do social distancing and we were quarantining and people were working remotely so there was a shift in real-life networking possibilities.”
The social media industry
Beyond the layoffs, social media has seen a tumultuous year.
Facebook and Instagram came under fire for trying to replicate TikTok’s business model.
In the meantime, TikTok had to deal with user data concerns again.
Elon Musk acquired Twitter in the latter half of 2022.
Since then, the prevalence of hate speech has increased, creating a post-apocalyptic environment.
A necessity in the modern landscape
LinkedIn has mostly stayed the same despite all the changes.
The social networking platform has been just what individuals need in light of the uncertain economic climate and recessionary anxieties.
People who work in academia or the media are searching for a platform to create and participate in professional networks, claims Jennifer Grygiel.
Mastodon, an alternative to Twitter, had a rise in growth, although it still doesn’t have the same influence as Twitter.
In recent years, LinkedIn has courted influencers who frequently publish on the platform, providing visitors an incentive to visit.
Due to the platform’s expansion of the “learning” section and the availability of video courses, the number of hours spent on the site in November increased by 17%.
However, the layoffs have increased user interest in LinkedIn.
Communities and connections
Using LinkedIn to encourage sign-ups, a group of Twitter employees built a database of laid-off employees with recruiters from other companies.
Another pair of ex-employees created a system that links job seekers with recruiters willing to donate their time to offer free resume critiques and interview preparation services.
A former technical recruiter from Twitter named Darnell Gilet assisted in organizing the project.
“We completely understand how the job-hunting process can be scary and overwhelming,” Gilet wrote on LinkedIn.
“While we can’t guarantee where your next opportunity will be or when it will come, we can offer guidance, so you will be ready for that opportunity when it arrives.”
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