Professional social networking platform LinkedIn has announced its second round of layoffs which will impact 3% of its total workforce as part of ‘streamlining decision making’ and ‘investing in strategic priorities’
Microsoft-owned professional social networking platform LinkedIn has announced its second round of layoffs which will impact 668 employees, amounting to 3% of the total workforce, across engineering, product, talent and finance teams.
While the company has not stated the exact reasons behind the layoffs, it did roll out a company statement wherein it mentioned that talent changes are a difficult, but necessary and regular part of managing its business.
“While we are adapting our organisational 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. We are committed to providing our full support to all impacted employees during this transition and ensuring that they are treated with care and respect,” the statement read.
As per reports, the company also sent out an email to its employees wherein it mentioned that in order to execute the company’s FY24 plan, LinkedIn will adapt its organisational structures to improve agility and accountability, establish unambiguous ownership, and drive improving efficiency and transparency through reduced layering.
“These decisions result in the reduction of 563 roles across R&D. Broken down, there are 137 Engineering management roles and 38 Product roles being reduced. Additionally, there will be 368 role reductions across our Engineering team in an effort to better align resources to our FY24 plan, and we will open a small number of new roles to fill critical gaps in our ambitious roadmap,” the internal mail read.
Five months back, in May, the company had announced its first round of layoffs which impacted 716 employees and the phasing down of the app in China.
Combining both the layoffs, LinkedIn has cut 1,384 jobs in total so far.
