LinkedIn is reportedly laying off five percent of its workforce - Engadget

"LinkedIn is "scaling back investments in some areas including marketing campaigns, vendor spend, customer events and underutilized office space, so we can focus teams on priorities that have the broadest impact with the highest [return on investment]," according to a memo from new CEO Daniel Shapero that Business Insider obtained. It states that LinkedIn is laying off workers across its Global Business Organization, marketing, engineering and product teams."

"Given that LinkedIn has more than 17,500 full-time employees, that means it will be dismissing approximately 875 people. A source told Reuters that LinkedIn was not explicitly citing artificial intelligence as a reason for the layoffs."

""As part of our regular business planning, we've implemented organizational changes to best position ourselves for future success," a LinkedIn spokesperson told Business Insider. The company is said to be closing an office in Graz, Austria, as part of the reorganization."

""Economic opportunity is one of the societal issues of our time, and Linkedin has been and will continue to be the platform that professionals and companies turn to as they navigate the changing world of work," Shapero wrote in the memo. "For us to meet this moment, we must ready ourselves to deliver a step change in impact across our products, businesses and platforms, while continuing to operate more profitably. We need to reinvent how we work, with agile teams focused on our highest priorities, and by shifting investments toward areas such as infrastructure to fulfill our mission and vision over the long term.""

LinkedIn is laying off about five percent of its workforce, affecting roughly 875 employees based on more than 17,500 full-time employees. The company is not explicitly citing artificial intelligence as the reason for the layoffs. The reorganization includes scaling back investments in marketing campaigns, vendor spend, customer events, and underutilized office space. Layoffs are expected across the Global Business Organization, marketing, engineering, and product teams. LinkedIn is also closing an office in Graz, Austria, as part of the business planning changes. CEO Daniel Shapero emphasized delivering a step change in impact, operating more profitably, reinventing how work is organized with agile teams, and shifting investments toward infrastructure for long-term mission goals. The layoffs follow Microsoft’s reported voluntary buyouts for up to seven percent of its workforce.

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