Microsoft's LinkedIn has said it will lay off 668 employees globally across its engineering, talent and finance teams in the second round of job cuts this year for the social media network for professionals amid slowing revenue growth.
The cuts will affect more than 3% of the 20,000-strong staff.
The company would not comment on whether this latest round of cuts will impact on LinkedIn's Irish-based workforce. The company employs 2,000 people at its EMEA and LATAM headquarters in Dublin.
"Talent changes are a difficult, but necessary and regular part of managing our business," the company said in a statement.
"The changes we shared with our team today will result in a reduction of approximately 668 roles across our engineering, product, talent and finance teams.
"While we are adapting our organisational 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.
"We are committed to providing our full support to all impacted employees during this transition and ensuring that they are treated with care and respect," the statement read.
LinkedIn makes money through ad sales and by charging for subscriptions to recruiting and sales professionals who use the network to find suitable job candidates.
In the fourth quarter of its fiscal 2023 year, LinkedIn's revenue increased 5% year-on-year, compared to 10% in the previous quarter.
Microsoft has cited a slowdown in hiring along with a decline in advertising spending as headwinds for LinkedIn, although it continues to add new members to its community of 950 million.
LinkedIn in May decided to cut 716 jobs across sales, operations and support teams to streamline its operations and remove layers to help make quicker decisions.
Additional reporting from Reuters
