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Eric Risberg/AP
The Microsoft-owned social media platform LinkedIn is shedding almost 700 staff, it mentioned in a press release Monday.
About 668 positions throughout the corporate’s engineering, product, expertise and finance departments can be eradicated. The announcement comes after the corporate mentioned in Could it was shedding 716 staff.
LinkedIn mentioned it’s restructuring the corporate and “streamlining our determination making.”
“We’re dedicated to offering our full help to all impacted staff throughout this transition and making certain that they’re handled with care and respect,” LinkedIn mentioned.
In its most up-to-date quarterly report launched in July, LinkedIn mentioned its income elevated 5% yr over yr and surpassed $15 billion for the primary time. Web site membership additionally grew for the previous eight quarters to greater than 950 million accounts.
LinkedIn mentioned in its Could layoff announcement that regardless of income and consumer progress, it has been “seeing shifts in buyer habits and slower income progress.”
In January, Microsoft mentioned it was shedding 10,000 staff to chop prices.
Microsoft CEO Satya Nadella mentioned on the time the corporate is “seeing organizations in each trade and geography train warning as some components of the world are in a recession and different components are anticipating one.”
There have been mass layoffs throughout the tech trade, together with at Amazon, Google and Meta.
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