LinkedIn to lay off 668 employees in second cut this year

In May, the company decided to cut 716 jobs across sales, operations and support teams to streamline its operations and remove layers to help make quicker decisions.

Microsoft's LinkedIn said it would lay off 668 employees across its engineering, talent and finance teams in the second round of job cuts this year for the social media network for professionals as demand for hiring services slows.

The cuts, which affect more than 3% of the social media site’s 20,000 global staff headcount, add to the tens of thousands of job losses this year in the technology sector amid an uncertain economic outlook.

Microsoft has cited a slowdown in hiring along with a decline in advertising spending as headwinds for LinkedIn, although it continues to add new members to its community of 950 million.

LinkedIn, an online networking site used mainly for professional purposes, makes money through ad sales and by charging for subscriptions to recruiting and sales professionals who use the network to find suitable job candidates.

In May, the company had decided to cut 716 jobs across sales, operations and support teams to streamline its operations and remove layers to help make quicker decisions.

It is unclear if the latest round of job cuts will impact the Ireland-based staff working for the company.

LinkedIn currently employs more than 2,000 people in Ireland and its European headquarters is located in Dublin city.

The global tech sector has laid off 141,516 employees in the first half of the year compared with about 6,000 a year ago, according to employment firm Challenger, Gray & Christmas.

There have been about 3,000 redundancies in the Irish tech sector following an ecommerce slump post-covid and a volatile inflationary environment.

• Reuters

• Additional reporting by the Irish Examiner