LinkedIn Lays Off Hundreds As Tech Cuts Continue To Hit Bay Area

SUNNYVALE, CA — LinkedIn announced Monday it is cutting almost 700 jobs as 2023’s onslaught of tech layoffs continues in the Bay Area.

The 668 positions being eliminated include engineering, product, talent and finance roles, according to the employment-focused social media platform.

“While we are adapting our organizational structures and streamlining our decision making, we are continuing to invest in strategic priorities for our future and to ensure we continue to deliver value for our members and customers,” the Sunnyvale-based company said in a news release.

In a memo to workers published in full by CNBC, leadership said the cuts included 388 engineering jobs, 137 engineering management roles and 38 product positions. The memo noted a need to restructure to improve agility, transparency and efficiency.

The cuts affect over 3 percent of LinkedIn’s 20,000 workers, according to Reuters.

Revenue year-over-year has slowed for the company during the last eight consecutive quarters, CNBC reported, adding parent company Microsoft cut 10,000 workers earlier in the year and even more in July.

LinkedIn previously announced in May that it would eliminate 716 jobs related to its global and China efforts due to shifts in customer behavior, slowing revenue growth and expectations of a continued challenging macro environment in the coming fiscal year.

Tech layoffs have hit the Bay Area hard in 2023, a continuation of a trend that began the previous year. Tech companies cut over 10,400 positions in the region in 2022, but have eliminated more than 18,300 so far in 2023, The Mercury News reported last week.