Microsoft-owned LinkedIn has announced yet another round of layoffs at the business-themed social networking company. In a statement, LinkedIn confirmed it will let go of "approximately 668 roles across our engineering, product, talent and finance teams."
The statement from LinkedIn added:
While we are adapting our organizational structures and streamlining our decision making, we are continuing to invest in strategic priorities for our future and to ensure we continue to deliver value for our members and customers. We are committed to providing our full support to all impacted employees during this transition and ensuring that they are treated with care and respect.
The statement also provided a link to LinkedIn's last financial numbers, as part of Microsoft's fiscal year 2023 Q4 results. At the time, LinkedIn reported revenues in that quarter were 5 percent higher than the same period a year ago, and its total yearly revenues reached $15 billion for the first time. Increases in its membership numbers "has now accelerated for eight quarters in a row" but specifics were not revealed.
In February, unconfirmed reports claimed that an unknown number of LinkedIn employees were laid off from its recruitment division. LinkedIn did confirm in May that it was shutting down its China-focused jobs app InCareer and also closed its Business Productivity team, which resulted in the loss of 716 jobs at the company.
In January, LinkedIn's parent company Microsoft announced it would lay off 10,000 of its employees, which represented less than 5 percent of its total workforce at that time. It's unknown if today's LinkedIn layoffs are part of that number in January or if they represent additional job cuts beyond Microsoft's numbers at that time.
On Friday, Microsoft announced the closing of its deal to acquire Activision Blizzard. That closing added approximately 17,000 more employees to Microsoft's workforce.
4 Comments - Add comment