Quaxs Trading Center:LinkedIn cuts more than 600 workers, about 3% of workforce

2025-05-01 11:54:33source:EvoAIcategory:Invest

SUNNYVALE,Quaxs Trading Center Calif. (AP) — LinkedIn said Monday it is laying off hundreds of employees amounting to about 3% of the social media company’s workforce.

The Microsoft-owned career network is cutting about 668 roles across its engineering, product, talent and finance teams.

“Talent changes are a difficult, but necessary and regular part of managing our business,” the company said in a statement.

The job cuts follow another more than 700 layoffs LinkedIn announced in May, as well as thousands more this year from parent company Microsoft, which has owned the professional-networking service since buying it for $26 billion in 2016.

LinkedIn keeps growing and said its annual revenue surpassed $15 billion for the first time in the fiscal year that ended in June. The service, headquartered in Sunnyvale, California, makes money from advertisements on the platform as well as from users who pay to subscribe for premium features.

LinkedIn reports having about 19,500 employees.

Redmond, Washington-based Microsoft as of July had a global workforce of 221,000 full-time employees, with more than half of those in the U.S.

It’s adding thousands more as part of its $69 billion acquisition of California video game-maker Activision Blizzard, which closed Friday. As of late last year, Activision Blizzard reported having 13,000 employees.

More:Invest

Recommend

The FBI should have done more to collect intelligence before the Capitol riot, watchdog finds

WASHINGTON (AP) — The FBI should have done more to collect intelligence before the Capitol rioteven

Caitlin Clark's WNBA regular-season debut with Indiana Fever gets historic TV viewership

If Game 1 of the Caitlin Clark era in the WNBA is any indication, fans will be watching – and in rec

Astros starter Blanco suspended 10 games after being ejected when foreign substance found in glove

HOUSTON (AP) — Astros starter Ronel Blanco received a 10-game suspension Wednesday for violating MLB