Microsoft’s LinkedIn said Monday it would lay off 668 employees from its engineering, talent and finance teams in the second round job losses this year for the social media network for professionals, as demand for hiring services decreases.
The cuts, which affect more than 3% of its 20,000-strong workforce, are contributing to tens of thousands of job losses in the technology sector this year, against the backdrop of an uncertain economic outlook.
The sector laid off 141,516 workers in the first half of the year, compared to about 6,000 a year ago, according to employment agency Challenger, Gray & Christmas.
LinkedIn makes money by selling ads and by charging subscriptions to recruiting and sales professionals who use the network to find qualified candidates.
The social media network had decided in May to cut 716 jobs across sales, operations and support teams to streamline operations and remove layers to make decisions faster.
The cuts, which affect more than 3% of its 20,000-strong workforce, are contributing to tens of thousands of job losses in the technology sector this year, against the backdrop of an uncertain economic outlook.
The sector laid off 141,516 workers in the first half of the year, compared to about 6,000 a year ago, according to employment agency Challenger, Gray & Christmas.
LinkedIn makes money by selling ads and by charging subscriptions to recruiting and sales professionals who use the network to find qualified candidates.
The social media network had decided in May to cut 716 jobs across sales, operations and support teams to streamline operations and remove layers to make decisions faster.
