Microsoft-owned LinkedIn lays off nearly 700 — read the memo here

-owned LinkedIn announced on Monday that it cut almost 700 employees, with most coming from the engineering organization, according to a memo viewed by CNBC. Cuts also came in the company's finance and human resources groups, according to a person familiar with the situation who asked to remain unidentified because they were not authorized to discuss the changes.

"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," LinkedIn said in a 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 388 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.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Microsoft-owned LinkedIn lays off nearly 700 — read the memo hereRevenue growth at Microsoft’s business social network has slowed as advertisers pull back in an uncertain economy
Source: NBCNewYork - 🏆 270. / 63 Read more »

Microsoft-owned LinkedIn lays off nearly 700 — read the memo hereRevenue growth at Microsoft’s business social network has slowed as advertisers pull back in an uncertain economy
Source: NBCDFW - 🏆 288. / 63 Read more »

LinkedIn lays off 668 employees as hiring activity slowsMicrosoft's (MSFT.O) LinkedIn said on Monday it would lay off 668 employees across its engineering, talent and finance teams in the second round of job cuts this year for the social media network for professionals as demand for hiring services slows.
Source: Reuters - 🏆 2. / 97 Read more »