Microsoft LinkedIn Announces Second Wave of Layoffs as Tech Sector Struggles Persist
Portfolio Pulse from Anusuya Lahiri
Microsoft's LinkedIn plans to lay off 668 employees across its engineering, talent, and finance teams, adding to the tens of thousands of job losses in the tech sector this year. This is the second round of job cuts for LinkedIn amid slowing revenue growth and an uncertain economic outlook. The layoffs are in addition to the 10,000 from January. LinkedIn's revenue increased 5% YoY in Q4, compared to 10% in the previous quarter. Microsoft cited a slowdown in hiring and a decline in advertising spending as headwinds for LinkedIn.
October 16, 2023 | 5:12 pm
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Microsoft's LinkedIn is laying off 668 employees, indicating slowing revenue growth and an uncertain economic outlook. This could potentially impact Microsoft's stock negatively in the short term.
The layoffs at LinkedIn, a Microsoft subsidiary, indicate potential financial struggles and a slowing revenue growth. This could lead to investor concern and a potential negative impact on Microsoft's stock in the short term.
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