LinkedIn To Cut Almost 700 Jobs Because of Less Demand


Microsoft’s LinkedIn is cutting about 668 roles across its engineering, product, talent and finance teams.

These are the second such cuts this year as fewer companies use the hiring platform and corporate social network.

As fewer employees look for new jobs and fewer companies hire, LinkedIn is facing less demand for its services. In May, the social network said it planned to shutter its Chinese jobs app and cut about 716 roles. 

Still, LinkedIn has grown under Microsoft, which acquired the professional network for $26.2 billion in 2016.

The company said revenue from LinkedIn rose 5% In the quarter ending June 30, and forecast growth for the quarter ending Sept. 30 in the “low-to-mid single digits.”

Microsoft reports earnings for the whole company next week.

Read More Here: LinkedIn cuts 668 jobs as a tightening job market means fewer companies are using its service for recruiting new workers

Leave a Reply

Your email address will not be published. Required fields are marked *