The company intends to reduce its gross cost base by between 800 million to 1.2 billion euros by the end of 2026. This will reduce the current workforce of 86,000 to between 72,000 and 77,000
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Earlier this month, the firm laid off 10% of its workforce
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According to Reuters, the company plans to slash roughly 100 jobs in its deal advisory business in the UK
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The layoffs will affect nearly 6% of the global workforce and will witness the departure of CTO Grazia Vittadini in April 2024
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The platform's engineering, product, talent and finance divisions will be affected by the cuts. LinkedIn fired off 716 employees worldwide in May 2023
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According to reports, approximately 100 to 150 staff were put off from StudyIQ and around 150 people were laid off in sales and content departments
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Founder and CEO Ryan Petersen announced the layoffs in an open email to employees on Thursday
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The company stated in its recent filings that the layoffs will affect about 1,064 San Diego-based employees and 194 Santa Clara-based employees
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