LinkedIn lays off 668 employees again

The layoffs will affect more than 3% of LinkedIn's 20,000 employees across engineering, product, human resources and finance departments. The decision was taken against the background of the slowdown in the company's revenue growth. The social network makes money by selling ads and paying subscription fees to HR professionals who use the service to recruit. Due to massive layoffs in the IT industry and a slowdown in hiring, LinkedIn is facing declining demand for its services. According to the Layoffs service, more than 242,000 people have been laid off from technology companies since the beginning of 2023. In May 2023, LinkedIn laid off 716 employees in its sales and customer support departments and also announced plans to close its application for the Chinese market.