Brief by Short91 Newsdesk / 04:24pm on 16 Oct 2023,Monday Business
LinkedIn, owned by Microsoft, revealed plans to lay off 668 employees from its engineering, talent, and finance teams, constituting over 3% of its 20,000-strong workforce. This marks the second round of job cuts this year for the professional social network, reflecting the technology sector's broader trend. LinkedIn's revenue growth has slowed, with a 5% increase in Q4 of fiscal 2023, compared to 10% in the previous quarter. Microsoft attributes this decline to reduced hiring and advertising spending, prompting the company to streamline operations and remove layers for faster decision-making.
