The company, which is owned my Microsoft, is cutting about 3% of its workforce.
The social network company says the jobs affected are across its engineering, talent and finance teams."Talent changes are a difficult, but necessary and regular part of managing our business," the firmThe latest job cuts represent about 3% of the company's workforce of 20,000 staff.
LinkedIn makes its money through job ad listings and premium subscriptions and is used by recruiters around the world.A slowdown in hiring along with a fall in advertising spending has hit the company, although it continues to sign up new members. In the fourth quarter of 2023, the firm's revenue increased by 5% year-on-year, down from 10% in the previous quarter.in the technology sector by companies including Amazon, Meta and Google's parent company Alphabet.All of these companies have been investing heavily in AI-powered technology, such as ChatGPT and Bard .
The US technology sector has announced more job cuts than any other sector this year, with over 150,000 layoffs,
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