LinkedIn has announced y that it will be laying off more than 660 employees across its engineering, product, talent, and finance teams. This represents more than 3% of the company’s global workforce.
This is the second round of layoffs at LinkedIn this year, following a round of cuts in May that affected 716 employees. The company also shut down its Chinese app, InCareer, in May.
In a statement, LinkedIn said that the layoffs are part of a broader restructuring effort to optimize around artificial intelligence. The company recently released a slew of new AI product features, including AI-assisted candidate discovery for recruiters and AI-powered coaching for premium subscribers.
“Talent changes are a difficult, but necessary and regular part of managing our business,” the company said in its statement. “While we are adapting our organizational structures and streamlining our decision making, we are continuing to invest in strategic priorities for our future and to ensure we continue to deliver value for our members and customers.”
“We are committed to providing our full support to all impacted employees during this transition and ensuring that they are treated with care and respect.”
“As we continue to execute on our FY24 plan, we need to also evolve how we work and what we prioritize so we can deliver on the key initiatives we’ve identified that will have an outsized impact in achieving our business goals,” CNBC reported, citing a memo it viewed from LinkedIn executives Mohak Shroff and Tomer Cohen.
“This means adapting our organizational structures to improve agility and accountability,” they said in the memo, “establishing unambiguous ownership and driving improved efficiency and transparency through reduced layering.”
It also noted it was “committed to providing [its] full support to all impacted employees during this transition and ensuring that they are treated with care and respect.”
The sources for this piece include an article in Axios.