The tech industry is reeling from the apparent economic downturn and employees are paying the price. Over the last month, Google, Meta, Amazon, Spotify, Twitter, and others have laid off thousands of workers. Microsoft too has been swinging the axe, with 10,000 employees facing the chop. It now seems LinkedIn is following the lead of its parent and also cutting jobs.
Microsoft-owned LinkedIn has actually been doing well in recent years, with revenue growing consistently. Although, it seems that no tech company can currently avoid the job losses sweeping the industry.
According to The Information, Microsoft has confirmed that LinkedIn employees were given their notice this week. It seems most of the cuts are coming from the platform's recruitment business. Microsoft acquired LinkedIn in 2016 in a huge $26 billion deal.
Big Tech Cull
Earlier this month, Microsoft brushed off reports of major job cuts as “rumor” before then confirming it will slash over 10,000 employees over the next three months. Google joined in last week by confirming it will cut 12,000 jobs. Both layoff cuts will account for 5% or more of Google and Microsoft's global workforce.
Amazon is also releasing around 20,000 employees, while Twitter and Facebook have also announced major reductions. Twitter is also laying off hundreds more after a mass exodus last year. PayPal and Meta have also announced cuts, while Spotify says it is cutting 6% of its workforce in the coming weeks and months.
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