"LinkedIn is cutting jobs and trimming spending across major teams despite revenue growth, as the Microsoft-owned company refocuses priorities. LinkedIn is still growing. That did not spare employees from another round of cuts. The Microsoft-owned professional networking company is reducing roles and trimming spending as leaders concentrate resources on the areas they believe will carry the business forward."
"LinkedIn plans to cut about 5% of its workforce, with reductions spanning its Global Business Organization, marketing, engineering, and product teams, according to Reuters. Employees in the US were expected to receive calendar invites shortly after CEO Daniel Shapero sent a companywide memo, while employees in Asia and the Pacific were expected to learn their status on Thursday."
"LinkedIn said the layoffs are part of regular business planning. "As part of our regular business planning, we've implemented organizational changes to best position ourselves for future success," a company spokesperson told Business Insider. The company has about 17,500 full-time employees globally, so a 5% reduction would affect roughly 875 workers."
"The pullback also reaches areas outside staffing. In the memo viewed by Business Insider, Shapero said the company would scale back marketing campaigns, vendor spending, customer events, and underused office space so teams can focus on work with the "broadest impact with the highest ROI.""
LinkedIn is reducing headcount and spending across major teams while revenue growth continues. The Microsoft-owned professional networking company plans to cut about 5% of its workforce, affecting roles in the Global Business Organization, marketing, engineering, and product teams. Employees in the US were expected to receive calendar invites after a CEO memo, while employees in Asia and the Pacific were expected to learn their status later. The company frames the layoffs as part of regular business planning and organizational changes to position for future success. The cost reductions also include scaling back marketing campaigns, vendor spending, customer events, and underused office space to concentrate resources on work with the highest return on investment.
#workforce-reductions #corporate-restructuring #budget-cuts #marketing-and-events #professional-networking
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