LinkedIn lays off 600+ workers in second round of cuts this year
The platform is letting go staff from its engineering, product, talent and finance teams.
LinkedIn has announced its second round of layoffs this year. The Microsoft division is shedding around 668 workers from across its engineering, product, talent and finance 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," LinkedIn said in its announcement. "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."
In May, LinkedIn revealed plans to lay off 716 people and close its job search app in China. As such, LinkedIn will have cut nearly 1,400 jobs this year amid widespread layoffs across the tech industry in 2023. Microsoft, which just bought Activision Blizzard for $68.7 billion, laid off around 10,000 workers in the first few months of 2023.
In Microsoft's most recent earnings report (which covers April to June), the company said that LinkedIn's earnings had increased by five percent year-over-year. It noted that membership growth had "accelerated for eight quarters in a row" and that the platform had more than 950 million users. Microsoft is set to announce financial results for the July-September period, the first quarter of its fiscal year, on October 24.
