LinkedIn To Lay Off 668 Employees

LinkedIn, Microsoft's professional social networking platform, announced Monday that it would lose 668 employees, or nearly 3 per cent of its staff. LinkedIn's engineering, product, talent, and finance divisions will be affected by the cuts, which are the company's second round of layoffs this year. LinkedIn fired off 716 employees worldwide in May and announced plans to reduce its business in China, citing decreased demand in an uncertain job market.

LinkedIn, which has 19,500 employees spread across 36 offices worldwide, did not elaborate on the reasons for the job losses on Monday. The corporation claimed in a statement that it was "streamlining our decision making" and would continue to "invest in strategic priorities."

Google, Meta, Amazon, and Microsoft all reduced their workforces this year after hiring aggressively during the pandemic. Microsoft slashed 10,000 jobs in January, accounting for less than 5 per cent of its staff, in order to minimise expenses and emphasise on priorities such as artificial intelligence. According to the layoff tracker Layoffs, more than 200,000 tech employees will be laid off in 2023.

LinkedIn announced in July that its sales for the three months ending in June had increased 5 per cent year on year, with yearly revenue reaching $15 billion for the first time. According to Microsoft's reports, the increase was driven by its recruiting business.