Sunnyvale, October 16: LinkedIn said Monday it is laying off hundreds of employees amounting to about 3% of the social media company's workforce.

The Microsoft-owned career network is cutting about 668 roles across its engineering, product, talent and finance teams. “Talent changes are a difficult, but necessary and regular part of managing our business,” the company said in a statement. Tech Layoffs To Continue! Around 555 Techies Being Fired Daily for Past Two Years, More Job Cuts Set To Happen in India and Abroad.

The job cuts follow another more than 700 layoffs LinkedIn announced in May, as well as thousands more this year from parent company Microsoft, which has owned the professional-networking service since buying it for $26 billion in 2016. LinkedIn keeps growing and said its annual revenue surpassed $15 billion for the first time in the fiscal year that ended in June. The service, headquartered in Sunnyvale, California, makes money from advertisements on the platform as well as from users who pay to subscribe for premium features.

LinkedIn reports having about 19,500 employees. TCS Hiring 40,000 Freshers! Tata Consultancy Services To Hire More Employees in Current Fiscal With No Plans for Large-Scale Job Cuts, Says COO. 

LinkedIn Layoffs:

Redmond, Washington-based Microsoft as of July had a global workforce of 221,000 full-time employees, with more than half of those in the U.S. It's adding thousands more as part of its $69 billion acquisition of California video game-maker Activision Blizzard, which closed Friday. As of late last year, Activision Blizzard reported having 13,000 employees.

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