LinkedIn, the professional networking site, has announced that it will cut 668 jobs this week. This comes amidst troubling times for tech workers and is the latest in a series of layoffs for the company.
The restructuring is said to be necessary to streamline decision-making at the company. The layoffs are not entirely surprising, considering that LinkedIn had already fired over 700 workers in May this year, citing financial troubles and shifts in customer behavior.
However, despite these challenges, LinkedIn has seen a dramatic increase in customer traffic. This could be attributed to their use of artificial intelligence (AI) technology, which has helped job recruiters find new hires more efficiently.
In fact, LinkedIn reported increased financial growth in its most recent report, with revenue surpassing $15 billion, and expanded membership to nearly 900 million.
