Gordon DeeganPre-tax profits at the main Irish arm of jobs and professional networking social media platform, LinkedIn last year fell by 43.5 per cent to $99.5 million (€93 million) due to higher costs. New accounts show that LinkedIn Ireland Unlimited Company recorded the sharp downturn in pre-tax profits as revenues grew by 15 per cent to $5.3 billion. Numbers employed rose by 449 to 2,236 as staff costs increased from $294.2 million to $322.54 million. Wages and salaries along with share-based payments totalled $278 million, showing that average pay for the 2,236 staff totalled $124,349 for the year. The note states that LinkedIn’s ultimate parent, Microsoft, has indemnified the company against all potential fines directed by the IDPC.

Source: The Herald November 03, 2023 19:35 UTC