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The company, on Monday, announced plans to cut 668 jobs across its engineering, product, talent, and finance teams. This is the second mass layoff at the company this year, following a decision in May to cut 716 jobs, and the third this year. An undisclosed number of workers on its talent acquisition team were let go in February, as reported then by The Information. “Talent changes are a difficult, but necessary and regular part of managing our business,” the company said in a statement. “While we are adapting our organizational structures and streamlining our decision-making, we are continuing to invest in strategic priorities for our future and to ensure we continue to deliver value for our members and customers. We are committed to providing our full support to all impacted employees during this transition and ensuring that they are treated with care and respect.”The belt-tightening comes despite a 5% year-over-year increase in revenues in the most-recent quarter. LinkedIn revenue topped $15 billion for the first time this fiscal year and has seen membership growth for eight consecutive quarters, Microsoft announced in July. An internal email announcing the layoffs, published on Insider, said the decision to reduce staff was made with the long-term needs of the business in mind. LinkedIn’s staff reductions follow massive layoffs that owner Microsoft made across its other divisions of the company in January. The company has previously cited a need to become more agile in its business operations as demand for its product fluctuates. Part of that has included reducing management roles and slowing its hiring as advertising spending, the chief source of LinkedIn’s revenue, has faced headwinds as economic concerns have grown. LinkedIn isn’t the only tech company laying off workers. Late last week, Qualcomm announced plans to eliminate 1,258 positions; LendingClub cut 172 jobs and supply chain software startup Flexport laid off roughly 20% of its workforce, nearly 700 employees. Year to date, over 1,000 tech companies have laid off some 242,481 workers, according to Layoffs.fyi. source: Fast Company #web3pulse #ICN #Linkedin #layoffs

#LinkedIn lays off 668 workers to simplify its organizational structure: #LinkedIn today announced that it will lay off 668 employees across its product development, human resources and finance groups.  The job cuts come a few months after LinkedIn parent #Microsoft Corp. implemented its second workforce reduction of the year. The first, larger round of #layoffs was announced in January and saw the technology giant let go […] The post LinkedIn lays off 668 workers to simplify its organizational structure appeared first on SiliconANGLE.

Dusturbance in the Force: LinkedIn Edition. More layoffs in tech, this time LinkedIn. 660 More getting laid off by Microsoft from LinkedIn: ----- Engadget: "LinkedIn lays off 600+ workers in second round of cuts this year. The platform is letting go staff from its engineering, product, talent and finance teams." (Kris Holt)(Oct 16, 2023) "LinkedIn has announced its second round of layoffs this year. The Microsoft division is shedding around 668 workers from across its engineering, product, talent and finance teams. "While we are adapting our organizational structures and streamlining our decision making, we are continuing to invest in strategic priorities for our future and to ensure we continue to deliver value for our members and customers," LinkedIn said in its announcement. "We are committed to providing our full support to all impacted employees during this transition and ensuring that they are treated with care and respect." In May, LinkedIn revealed plans to lay off 716 people and close its job search app in China. As such, LinkedIn will have cut nearly 1,400 jobs this year amid widespread layoffs across the tech industry in 2023. Microsoft, which just bought Activision Blizzard for $68.7 billion, laid off around 10,000 workers in the first few months of 2023. In Microsoft's most recent earnings report (which covers April to June), the company said that LinkedIn's earnings had increased by five percent year-over-year. It noted that membership growth had "accelerated for eight quarters in a row" and that the platform had more than 950 million users. Microsoft is set to announce financial results for the July-September period, the first quarter of its fiscal year, on October 24." Engadget: https://lnkd.in/gBdF4C7t #techlayoffs #microsoft #linkedin #disturbanceintheforce

LinkedIn Lays Off 668 Employees in Second cut this year (2023) Source 📣 : Inshorts Microsoft-owned LinkedIn on Monday said it would lay off 668 employees across its engineering, talent, and finance teams in the second round of job cuts this year. The job cuts affect more than 3% of the company's workforce. In May this year, LinkedIn decided sales to cut 716 jobs across sales, operations, and Support teams. "We're seeing shifts in customer behavior CEO Ryan said at the time of the first layoffs Follow us for more Industry Updates and Big Breakings💯 . . . #LinkedInLayoffs #WorkforceChanges #CareerTransition #SupportingOurTeam #NewBeginnings #ProfessionalResilience #JobSeekers #LinkedInCommunity #TransitioningTogether #EmpathyInBusiness #UpskillingOpportunities #CorporateResponsibility #NavigatingChange #FutureOfWork #ReshapingLinkedIn #StrengthInUnity #LinkedInFamily #CareerPivot #AdaptingToChange #LinkedInNews

LinkedIn has recently announced a significant reduction in its workforce, with 668 positions being cut, primarily affecting the engineering, talent, and finance teams. This marks the second major downsizing for the Microsoft-owned platform in 2023, following an earlier layoff of over 700 employees. As we witness these changes, let's remember the resilience of our industry and the countless opportunities that arise even in times of uncertainty. To those impacted, know that the tech community is robust, and new doors are opening every day. For those of us in the position to hire, let's welcome the influx of available talent and harness their potential to fuel our future innovations! 💡🚀 #Recruiting #HumanResources #CareerTransitions #FutureOfWork

Is the manager role increasingly under threat? Earlier today, LinkedIn announced layoffs "to improve agility and accountability, establishing unambiguous ownership, and driving improving efficiency & transparency through reduced layering." LinkedIn is only the latest company to make such a move. From Meta to Citi, many companies have taken the same prescription over the past months. Notably, data shows that the pandemic turned the U.S. into "an economy where a larger share of people made their living managing, organizing, and moving things around rather than making things or providing services." But as work became remote or hybrid, managers struggled with their traditional roles. Simultaneously, companies realized that people could be productive without close managerial supervision or that employee monitoring technologies could replace management oversight. Roll it forward to today's uncertain economic climate, and it's easy to see why bloated and costly management layers feel only like a nice-to-have thing. Still, the arch middle management is undergoing reflects more than economic necessities. It is also a symptom of how the manager role has been largely mis-calibrated. For a long time, companies operated under the assumption that employees needed bosses. Bosses, in turn, would primarily look at their role as serving the priority of transferring the pressure and oversight from above to the rank-and-file workforce. Such characterization feels outdated in today's VUCA reality. Facing change, instability, uncertainty, and ambiguity, organizations should want managers to take on a much more complex role - that of interpreter, catalyst, coach, ambassador, role model, innovator, and much more. Holding a role shaped by these new priorities, managers wouldn't be the bosses in the middle but the energy transformers that envision and drive purpose, the simplifiers that reduce complexity, the movers that channel opportunities, and the insight-ers that help the organization make progress on its journey of internal and outer growth. Of course, for all of that to be true, the role should not be the object of careerism but vocation, nor should companies expect it to operate the old-fashioned way. #HumanResources #Management #culture #purpose #layoffs #Leadership #Innovation #Entreapreunership #Careers #Technology #Future #SocialMedia

Read the email LinkedIn sent employees announcing more than 600 layoffs across its engineering and product teams https://buff.ly/46W12Df - 💼 LinkedIn is laying off over 600 employees from its engineering and product teams. - 📧 The announcement was made through an email sent to employees on Monday. - 🌐 These layoffs are part of LinkedIn's efforts to adapt its organizational structure and align resources with its FY24 plan. - 🚀 The cuts include 137 engineering management roles and 38 product roles. - 💔 LinkedIn CEO Ryan Roslansky mentioned slower revenue growth as a reason for the layoffs. - 🌐 The company is committed to providing support and respect to the impacted employees during this transition. - 📉 LinkedIn is one of several tech companies, including Google, Microsoft, and Meta, that have initiated layoffs due to economic concerns. - 🗨️ Rumors of these layoffs started circulating among LinkedIn employees on the Blind workplace forum before the official email was sent. - 🤝 LinkedIn's leadership emphasizes the importance of empathy and understanding during these challenging times. #layoffs #linkedin #businessInsider #technews

Unfortunately a lot of people need to hear this: You don’t have to go on LinkedIn and thank your company for laying you off. One of the best and worst parts of scrolling this site is seeing all the messages from people announcing they’ve been “impacted” by their company’s cutbacks. I say best because it’s heartening to see so many people go to work recommending their newly unemployed colleagues to their network to try to find them a job. I say worst for the obvious reasons, but also because it’s so disheartening to see how these messages are framed. It seems like every week a new post pops up in my feed from someone saying how wonderful their company is, how their bosses are always there for them, how they’re treated like family … and oh by the way they just fired me without warning even though my performance was great. I get that people don’t want to publicly bad-mouth their former bosses, but you don’t need to do that to get the message across that you’re looking for a new job. The reality is most big companies doing layoffs aren’t cutting jobs to survive but to increase profits. Take Meta, which owns Facebook and Instagram. In the most recent quarter, they cut 22,000 jobs and increased profits 201%. Alphabet, which owns Google? They cut 4% of jobs and grew profit 52%. Microsoft? Cut 2% of jobs, grew profit 33%. It goes on and on. The stock market is at an all-time high during a time when layoffs are also increasing. There are plenty of exceptions, of course, especially at small businesses. And maybe you really did love your old company and are thankful to move on with severance, if you’re fortunate enough to get it. But these companies have massive advertising and PR budgets; they don’t need you doing free PR work for them. As a former HR professional, I can pretty much guarantee you we don’t hire based on whether you posted a glowing review of your previous company’s decision to put profits over your paycheck. More importantly, the type of place that would hire you for being appreciative of layoffs is probably not the place you want to work.

Unfortunately a lot of people need to hear this: You don’t have to go on LinkedIn and thank your company for laying you off. One of the best and worst parts of scrolling this site is seeing all the messages from people announcing they’ve been “impacted” by their company’s cutbacks. I say best because it’s heartening to see so many people go to work recommending their newly unemployed colleagues to their network to try to find them a job. I say worst for the obvious reasons, but also because it’s so disheartening to see how these messages are framed. It seems like every week a new post pops up in my feed from someone saying how wonderful their company is, how their bosses are always there for them, how they’re treated like family … and oh by the way they just fired me without warning even though my performance was great. I get that people don’t want to publicly bad-mouth their former bosses, but you don’t need to do that to get the message across that you’re looking for a new job. The reality is most big companies doing layoffs aren’t cutting jobs to survive but to increase profits. Take Meta, which owns Facebook and Instagram. In the most recent quarter, they cut 22,000 jobs and increased profits 201%. Alphabet, which owns Google? They cut 4% of jobs and grew profit 52%. Microsoft? Cut 2% of jobs, grew profit 33%. It goes on and on. The stock market is at an all-time high during a time when layoffs are also increasing. There are plenty of exceptions, of course, especially at small businesses. And maybe you really did love your old company and are thankful to move on with severance, if you’re fortunate enough to get it. But these companies have massive advertising and PR budgets; they don’t need you doing free PR work for them. As a former HR professional, I can pretty much guarantee you we don’t hire based on whether you posted a glowing review of your previous company’s decision to put profits over your paycheck. More importantly, the type of place that would hire you for being appreciative of layoffs is probably not the place you want to work.

LinkedIn has recently announced a significant reduction in its workforce, with 668 positions being cut, primarily affecting the engineering, talent, and finance teams. This marks the second major downsizing for the Microsoft-owned platform in 2023, following an earlier layoff of over 700 employees. As we witness these changes, let's remember the resilience of our industry and the countless opportunities that arise even in times of uncertainty. To those impacted, know that the tech community is robust, and new doors are opening every day. For those of us in the position to hire, let's welcome the influx of available talent and harness their potential to fuel our future innovations! 💡🚀 #Recruiting #HumanResources #CareerTransitions #FutureOfWork