LinkedIn lays off 668 employees in second cut this year::Microsoft’s LinkedIn said on Monday it would lay off 668 employees across its engineering, talent and finance teams in the second round of job cuts this year for the social media network for professionals amid slowing revenue growth.
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Ironically they can post that they’re open to work on LinkedIn and get hired through there.
After growing 5% quarter over year, they layoff 3% of the workforce because greed.
The LinkedIn employees on Blind (an anonymous social media site for tech workers) are beyond pissed, no justification for this beyond greed.
As they should be. Personally I think this has more to do with a certain $29b tax bill Microsoft just got.
Didn’t they spend $69B to buy Blizzard?
Companies don’t acquire other companies with cash, it’s an obscure mixture of stocks being exchanged
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
Translation: We are greedy and we are not sorry
Value? What value?
Linkedin is cancer
It’s Facebook for corporate shills and people who pretend to be one when looking for a job.
John Smith, LinkedIn Talent Acquisition Specialist
#OpenToWork
This is the best summary I could come up with:
Oct 16 (Reuters) - Microsoft’s (MSFT.O) LinkedIn said on Monday it would lay off 668 employees across its engineering, talent and finance teams in the second round of job cuts this year for the social media network for professionals amid slowing revenue growth.
The cuts, which affect more than 3% of the 20,000-strong staff, add to the tens of thousands of job losses this year in the technology sector in the face of an uncertain economic outlook.
“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 blog on Monday.
LinkedIn makes money through ad sales and by charging for subscriptions to recruiting and sales professionals who use the network to find suitable job candidates.
Microsoft has cited a slowdown in hiring along with a decline in advertising spending as headwinds for LinkedIn, although it continues to add new members to its community of 950 million.
LinkedIn in May decided to cut 716 jobs across sales, operations and support teams to streamline its operations and remove layers to help make quicker decisions.
The original article contains 253 words, the summary contains 202 words. Saved 20%. I’m a bot and I’m open source!
