A new Worker Accounting and Retraining Notification (WARN) report reveals that 606 LinkedIn employees were notified of permanent layoffs last week, which will go into effect on July 13.
The bulk of the layoffs (352) come from their Mountain View, California office, with another 66 remote employees in the same city.
Another 108 employees were laid off at their San Francisco office, plus another 59 at their Sunnyvale office and 21 in Carpinteria.
The layoffs were foreshadowed by an internal memo from LinkedIn CEO Daniel Shapero
“We need to reinvent how we work, with agile teams focused on our highest priorities, and by shifting investments toward areas such as infrastructure to fulfill our mission and vision over the long term. This requires hard prioritization and tradeoffs,” the memo stated.
“Today I’m sharing the difficult decision that I, along with our leadership team, have made to reduce roles across GBO, Marketing, Engineering and Product,” the CEO added.
A 5% cut of the company’s 17,500 employees would result in a cut of 875 jobs, though there is no indication that more could be shown the door at LinkedIn quite yet. The cuts come just weeks after LinkedIn announced in a third-quarter earnings statement that they posted a 12% growth in revenue year-over-year.
Source: New York Post
Be the first one to participate!