New Delhi: LinkedIn, the career network company owned by Microsoft, revealed a fresh round of layoffs recently, affecting approximately 700 employees. These workforce reductions align with the company’s new policy and will impact various departments, including finance, product, engineering, and talent teams.
According to reports, approximately 3% of the total workforce will be affected, with 668 roles being eliminated. This announcement in October follows a similar decision made by LinkedIn in May of this year, where they announced 700 job cuts. This coincided with a larger layoff at its parent company, Microsoft, resulting in thousands of job losses. Microsoft acquired LinkedIn in 2016 for $26 billion.
In their communication to staff, LinkedIn explained, “As we continue to execute on our FY24 plan, we need to also evolve how we work and what we prioritise so we can deliver on the key initiatives we’ve identified that will have an outsized impact in achieving our business goals. This means adapting our organisational structures to improve agility and accountability, establishing unambiguous ownership, and driving improving efficiency & transparency through reduced layering.”
The communication mentioned that these decisions would lead to a reduction of 563 positions within the Research and Development division. Specifically, 137 roles in engineering management and 38 roles in product development will be eliminated. Additionally, 368 role reductions will be made within the engineering team to reallocate resources in alignment with FY24 objectives. The company also mentioned that it plans to introduce a limited number of new roles to address essential needs in its ‘ambitious project portfolio.’
In an official press statement, LinkedIn outlined these talent changes as a “challenging yet essential” aspect of business management. “While we are adjusting our organizational structures and simplifying decision-making processes, we remain committed to investing in strategic priorities for our future and ensuring that we continue to provide value to our members and customers,” the company stated.
LinkedIn also has plans to enlarge its hiring efforts in India, according to reports from media outlets.
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