LinkedIn Cuts 668 Jobs in Second Round of Layoffs This Year
Affecting 668 employees in engineering, talent, and finance, accounting for over 3% of its 20,000-strong workforce.
The decision to reduce staff comes as LinkedIn grapples with slowing revenue growth, reflecting broader trends in the tech industry.
The tech sector has seen a significant increase in job losses this year, with over 141,000 employees laid off in the first half of the year.
LinkedIn's revenue model relies on advertising sales and subscription fees, but despite its 950 million-member community, revenue growth has been sluggish.
Microsoft attributes LinkedIn's challenges to a slowdown in hiring and a decline in advertising spending but remains optimistic about the platform's future.
LinkedIn announced the layoff of 716 employees in sales, operations, and support teams to streamline operations and foster quicker decision-making processes.
These layoffs at LinkedIn underscore the challenges faced by tech companies in adapting their operations to changing market dynamics