LinkedIn Is Reportedly Laying Off Five Percent Of Its Workforce
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LinkedIn is the latest major tech company to announce large-scale layoffs. According to Reuters, the company is letting around five percent of its workforce go. Given that LinkedIn has more than 17,500 full-time employees, that means it will be dismissing approximately 875 people. A source told Reuters that LinkedIn was not explicitly citing artificial intelligence as a reason for the layoffs.
LinkedIn is "scaling back investments in some areas including marketing campaigns, vendor spend, customer events and underutilized office space, so we can focus teams on priorities that have the broadest impact with the highest [return on investment]," according to a memo from new CEO Daniel Shapero that Business Insider obtained. It states that LinkedIn is laying off workers across its Global Business Organization, marketing, engineering and product teams.
The company is said to be closing an office in Graz, Austria, as part of the reorganization....
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