LinkedIn, the tech giant, is going through another round of layoffs with over 600 people expected to lose their jobs. This is the second round of layoffs this year and it has us asking: what is going on?
LINKEDIN WILL CUT ANOTHER 668 JOBS
"Earlier this month, LinkedIn announced that it would roll out a raft of new AI powered tools across the business. Today, it’s making a different kind of announcement focused on the future: The company is laying off 668 employees. We understand from a reliable source that the majority of the layoffs, some 563, will be in R&D, with teams across engineering, product, talent and finance impacted. The cuts, announced this morning, come five months after LinkedIn announced 716 job cuts, at the same time that it would be phasing out its app in China. Today’s cuts bring the total number of layoffs to Microsoft-owned LinkedIn to 1,384. In total, there have been more than 242,000 people laid off in the technology sector in 2023, according to employment tracker Layoffs.fyi.
“While we are adapting our organizational 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,” the company said in an unsigned statement today. “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.” It didn’t specify which strategic priorities but a refocus on hiring more AI talent is likely part of the mix." Learn more
LINKEDIN LAYOFFS WILL MOST AFFECT ENGINEERS
"Microsoft is kicking off another round of layoffs, this time cutting 668 jobs across several teams at LinkedIn. News of the cuts came this morning, which LinkedIn confirmed in a brief blog post that it described to The Register as "full." According to the Microsoft subsidiary, the cuts will range across engineering, product, talent, and finance teams and were made as part of organizational restructuring and streamlining "to ensure we continue to deliver value for our members and customers."
A more detailed account of the layoffs penned by LinkedIn's SVP of engineering Mohak Shroff and CPO Tomer Cohen was sent to current employees and found its way online today, and with it a more detailed account of the lost jobs. Per the memo, 563 roles in LinkedIn research and development are being cut, 137 engineer management roles, and 38 product staffers among them. The bulk of the cuts - 388 jobs - are being culled directly from engineering teams, though a few people will be saved "to fill critical gaps in our ambitious roadmap," the executive duo said. The remaining 105 eliminated positions, we assume, will come from the aforementioned non-engineering teams." Learn more