LinkedIn in May decided to cut 716 jobs across sales, operations and support teams to streamline its operations and remove layers to help make quicker decisions. In the second round of job cutbacks this year for the professional social media network, Microsoft's (MSFT.O) LinkedIn announced on Monday that it would lay off 668 people from its engineering, talent, and finance departments, reported Reuters. LinkedIn generates revenue by selling ads charging sales and recruiting professionals who use the network to discover qualified job applicants a subscription fee. Despite continuing to recruit new members to its 950 million-strong group, LinkedIn has been facing headwinds from Microsoft, including a halt in hiring and a decrease in advertising spending. In order to streamline its processes and remove layers to facilitate quicker decision-making, LinkedIn decided in May to eliminate 716 employees across its sales, operations, and support departments.

Source: dna October 17, 2023 15:09 UTC