LinkedIn to lay off 716 employees

Microsoft-owned LinkedIn has announced its plans to lay off 716 employees. The figure represents about 3.5% of the company’s 20,000-strong workforce.

The online professional networking platform is the latest tech company to announce downsizing, following a string of layoffs in the United States, Nigeria and around the world.

– A key thing to know

In a letter to employees, LinkedIn CEO, Ryan Roslansky, said the decision to reduce roles in its sales, operations, and support teams was aimed at streamlining operations and facilitating faster decision-making.

“With the market and customer demand fluctuating more, and to serve emerging and growth markets more effectively, we are expanding the use of vendors,” he said, according to Reuters.

LinkedIn users rely on the platform to get connected to jobs, strengthen professional relationships, and learn the skills they need to succeed in their careers.

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In February, Microsoft announced plans to fire around 10,000 employees. In the same month Meta, the parent company of Facebook, WhatsApp, and Instagram confirmed it was laying off about 10,000 workers, four months after 11,000 of its workers sacked.

A wave of layoffs by tech companies has pushed tens of thousands of people back into the labour market and has raised fears over job security in the sector especially with the rise of artificial intelligence.