LinkedIn Lays Off Hundreds of Workers

Company says it is 'streamlining'
By Rob Quinn,  Newser Staff
Posted Oct 16, 2023 4:04 PM CDT
LinkedIn Lays Off Hundreds of Workers
A sculpture on a terrace outside the offices of LinkedIn in San Francisco.   (AP Photo/Eric Risberg, File)

More than 600 workers at LinkedIn are going to have to update their resumes. The Microsoft-owned, employment-focused social network announced Monday that it is laying off 668 workers, Reuters reports. The company said jobs would be cut in its engineering, talent, and finance teams. LinkedIn cut 716 jobs in a previous round of layoffs in May, the Verge reports. Those layoffs affected its sales, operations, and support teams.

"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," the company said in a blog post. LinkedIn, which has almost 20,000 employees, makes its money from advertisements and charges for premium features, the AP reports. The Verge notes that the company is still growing, with annual revenue surpassing $15 billion for the first time, and that "like nearly every tech company," it has been "leaning hard" into artificial intelligence, with projects rumored to involve an AI-powered job coach. (More LinkedIn stories.)

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