LinkedIn Plans Significant Layoffs
This summer, hundreds of LinkedIn employees will be searching for new job opportunities as the company prepares to lay off more than 600 workers.
A recent WARN report indicated that 606 LinkedIn employees were informed about their permanent layoffs last week, effective July 13th.
Most of these layoffs—352 in total—will take place at the Mountain View, California office, including an additional 66 remote workers based there. Furthermore, 108 jobs will be cut in the San Francisco office, with 59 in Sunnyvale and 21 in Carpinteria.
This news was initially conveyed through an internal memo from LinkedIn CEO Daniel Chapero, which was discussed in detail by various outlets earlier this month. The memo outlined the need for a shift in priorities, emphasizing the requirement to focus on key areas with agile teams and to shift investments toward infrastructure for long-term goals.
The CEO mentioned, “Today, my management team and I made the difficult decision to reduce our roles across GBO, marketing, engineering, and product,” adding that the company will scale back on certain investments, such as marketing campaigns and underutilized office space, to enhance overall effectiveness.
There may be additional layoffs down the line. Recent reports suggest LinkedIn could cut about 5% of its workforce, which, given its total of 17,500 employees, translates to around 875 jobs. However, there’s no confirmed indication that more layoffs are immediately on the horizon.
These cuts are set to happen soon. Interestingly, LinkedIn recently announced a 12% rise in sales compared to the same quarter last year, which makes the cuts even more notable.
Moreover, this comes soon after Chapero took on the CEO role in April, following his position as the company’s chief operating officer.
LinkedIn’s parent company, Microsoft, has also indicated plans that may affect approximately 8,750 employees, or about 7% of its 125,000 workforce.
There’s also a buyout program in place for employees interested in early retirement if their age combined with years of service surpasses 70, which might help minimize upcoming layoffs.
