LinkedIn Lays Off , Over 600 Employees.<br />On Oct. 16, LinkedIn announced that it <br />will lay off another 668 workers.<br />The company had another round of job cuts earlier this year as well, Reuters reports. .<br />While we are adapting our <br />organizational structures and <br />streamlining our decision making, <br />we are continuing to invest in strategic <br />priorities for our future and to ensure <br />we continue to deliver value for our <br />members and customers, LinkedIn, via blog post.<br />In Q4 2023, LinkedIn's revenue rose 5% <br />compared to the same time last year.<br />It rose 10% compared to Q3 2023.<br />Microsoft, which owns LinkedIn, cited reduced <br />advertising spending and hiring slowdowns <br />as headwinds for the company.<br />The site has 950 million members <br />and continues to gain subscriptions.<br />The current cuts will affect over 3% <br />of LinkedIn's staff across "engineering, <br />talent and finance teams," Reuters reports. .<br />Employment firm Challenger, Gray & Christmas <br />reports that 141,516 employees were laid off in <br />the tech sector in the first half of 2023.<br />Only about 6,000 were let go <br />a year ago, Reuters reports.
