LinkedIn is going through a second round of layoffs that will see 3% of the company’s workforce leaving among their 20,000 employees.
The Microsoft-owned company on Monday decided to axe nearly 700 of its employees across its engineering, talent, and finance teams.
According to the email sent by LinkedIn to its employees, the decision is taken to ensure improved agility, accountability, transparency, and efficiency through reduced layering.
Back in May, LinkedIn laid off around 700 employees worldwide and scaled down its presence in China, citing a shaky job market and decreased demand.
LinkedIn’s parent company, Microsoft, also initiated a global workforce reduction, joining other tech giants like Meta, Google, and Amazon, resulting in more than 200,000 job cuts in the tech sector. These job cuts in the tech sector are primarily due to a global recession, an uncertain economy, and investment in artificial intelligence.
LinkedIn is heavily investing in artificial intelligence and has unveiled a range of AI-driven tools designed to assist in marketing, recruitment, and sales.