Microsoft LinkedIn is cutting about 668 positions across its engineering, product, talent and finance teams. It’s the second such layoff this year, as fewer companies use recruitment platforms and enterprise social networks.
“We will continue to invest in our strategic priorities for the future and ensure we continue to provide value to our members,” LinkedIn said in a statement. Blog article on Monday.
With fewer workers looking for new jobs and fewer companies recruiting, LinkedIn faces reduced demand for its services. In May, social media said Planned closure Its China recruiting app and laid off about 716 positions.
Still, LinkedIn has grown under Microsoft, Gain a professional network Revenue in 2016 was $26.2 billion. LinkedIn’s revenue grew 5% in the quarter ended June 30, the company said, forecasting “low to mid-single digit” growth for the quarter ended September 30. Microsoft will report company-wide earnings next week.
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