Microsoft-owned LinkedIn lays off nearly 700 employees — read the memo here
Publishing timestamp: 2023-10-16 12:25:55
Summary
LinkedIn, owned by Microsoft, is cutting almost 700 employees, primarily from its engineering group, as revenue growth has slowed over the past two years. The company has seen year-over-year revenue growth slow for eight consecutive quarters, growing just 5% in the second quarter. The layoffs are part of an effort to improve agility, accountability, and efficiency within the organization. Microsoft has also announced previous layoffs earlier this year. Despite the layoffs, LinkedIn is ramping up hiring in India. The company is committed to supporting the impacted employees during this transition.
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Keywords: breaking news: technology, business news, technology, labor economy, microsoft corp, enterprise, personnel, business,
Source: https://www.cnbc.com/2023/10/16/microsoft-owned-linkedin-lays-off-nearly-700-read-the-memo-here.html