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LinkedIn to cut 668 more jobs

Published : 17 Oct 2023, 01:59

  DF News Desk
Macaulay Honor College under The City University of New York posted this photo on its website while explaining the function of LinkedIn Corporation, which announced on Oct. 16, 2023 that it is laying off 668 employees. Photo: via Xinhua.

LinkedIn announced on Monday that the company is laying off 668 employees, accounting for roughly 3 percent of its global workforce, reported Xinhua.

The move comes five months after LinkedIn announced 716 job cuts, bringing the Microsoft-owned company's total number of layoffs to 1,384.

"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 statement.

In Microsoft's July 2023 full-fiscal-year earnings report, LinkedIn had more than 950 million members and over 15 billion U.S. dollars in revenues.

"We continue to use AI to help our members and customers connect to opportunities and tap into the experiences of experts on the platform. Our AI-powered collaborative articles are now the fastest-growing traffic driver to LinkedIn," the company said.

In total, there have been more than 242,000 people laid off in the technology sector in 2023, according to employment tracker