LinkedIn is laying off approximately 668 people across its engineering, product, talent and finance teams. The professional networking and jobs website announced the workforce reductions today.
“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,” LinkedIn said in a statement. “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.”
LinkedIn ranks as the largest online job advertising firm in the world, according to SIA’s Online Job Advertising Market Update report. In July, LinkedIn’s parent company, Microsoft Corp., reported that LinkedIn’s revenue had surpassed $15 billion for the first time in its fiscal year ended June 30, and fourth-quarter revenue had risen 7% year over year in constant currency.