LinkedIn is experiencing a wave of significant layoffs. What’s behind this decision? Let’s delve into the company’s announcements and break down the details.
Just earlier this month, LinkedIn unveiled a range of new AI-powered tools throughout its platform. Yet, in a surprising turn of events, the company has today confirmed the layoff of 668 of its staff members.
The bulk of these layoffs, numbering around 563 individuals, will primarily impact the R&D sector. Furthermore, teams involved in engineering, product development, talent management, and finance are also slated to be affected by these reductions.
Effects of Artificial Intelligence!
This morning, LinkedIn revealed that the current round of layoffs follows an announcement made five months ago in which they disclosed plans to lay off 716 employees. Additionally, the company stated its intention to discontinue its app operations in China.
With today’s reductions, the cumulative layoffs at Microsoft’s subsidiary, LinkedIn, now stand at 1,384 individuals. Based on data from the employment tracker Layoffs.fyi, the tech sector is set to witness over 242,000 layoffs in 2023 alone.
The company said in a statement:
As we restructure our organization and enhance our decision-making processes, our focus remains on strategically shaping our future and delivering unparalleled value to our members and clients. Throughout this transition, we pledge our unwavering support to all affected employees, ensuring their well-being and dignity are upheld. We persist in harnessing AI to bridge individuals with opportunities and tap into the insights of experts on our platform. Currently, our AI-driven content ranks as the most rapidly expanding traffic source for LinkedIn.
It wasn’t stated what those strategic priorities were, but it’s thought.
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