In The Second Round Of Layoffs This Year, Linkedin Has Laid Off 668 Staff
LinkedIn stated on Monday that it would lay off 668 engineers, talent, and finance workers in a second round this year. The cut due to decreased recruitment demand.
Cutting staff for strategic priorities
About 3% of Microsoft’s 20,000 employees were laid off, adding to the IT industry’s tens of thousands this year.
“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 Monday.
Challenger, Gray & Christmas reports that the tech sector shed 141,516 jobs in the first half of this year, up from 6,000 last year.
A tech trend reflection
Longtime professional networking site Linkedin sells adverts and charges recruiters and salespeople subscription fees to discover applicants.
Despite its notoriety, LinkedIn has had revenue issues. Social media also laid off workers in May.
They said they reduced 716 sales, operations, and support positions to streamline operations and eliminate layers to make decisions faster.After a one-year pause, LinkedIn is contemplating layoffs, a frequent technology sector issue.
Layoffs may cause retaliation.
Tech layoffs are common, but they offer issues. After large layoffs, organizations must rehire top people and invest heavily in training. Second, downsizing may make employees feel lost and unhappy, lowering business morale. Finally, in a market slump, organizations must stay financially stable to grow.
