More Microsoft Layoffs, Microsoft Shares Fall, Investment in 'AI' Collapses
-
LinkedIn lays off 668 people, about 3% of global workforce
LinkedIn said Monday it is laying off hundreds of employees amounting to about three per cent of the social media company's workforce. The Microsoft-owned career network is cutting about 668 roles across its engineering, product, talent and finance teams. "Talent changes are a difficult, but necessary and regular part of managing our business," the company said in a statement. The job cuts follow another more than 700 layoffs LinkedIn announced in May, as well as thousands more this year from parent company Microsoft, which has owned the professional-networking service since buying it for $26 billion US in 2016.
-
Epic Games layoffs included almost half of Bandcamp's staff
"At least" half of Bandcamp's staff was laid off ahead of its sale by Epic Games to music licensing and distribution platform Songtradr.
Epic only acquired Bandcamp, the self-styled "online record store and music community", last year. As we reported back in 2022, the Fortnite and Unreal Engine developer said this acquisition was all part of its vision to build out a "creator marketplace ecosystem". Its subsequent sale to Songtradr was then announced last month.
-
LinkedIn To Cut More Jobs, In Second Round Of Layoffs
Another 668 people across LinkedIn’s engineering, product, talent and finance teams are to be made redundant, in second tranche of job losses
Microsoft-owned LinkedIn has confirmed it is to reduce its workforce for the second time this year.
In an ‘October Update’ blog post, LinkedIn said that it will axe “approximately 668 roles across our engineering, product, talent and finance teams” – a move that impacts 3 percent of the 20,000-strong staff at the platform.
This is second tranche of job cuts at the business-focused social network. In May this year LinkedIn announced it was closing its remaining service (a jobs app) in China and would also cut 716 jobs as well.
-
Microsoft Falls amid LinkedIn Layoffs
As for Microsoft, its shares began Tuesday lower $2.72 to $329.92.
-
AI venture capital deal volume shrinks 27%: Pitchbook
This website stores data such as cookies to enable essential site functionality, as well as marketing, personalisation, and analytics. You may change your settings at any time or accept the default settings. You may close this banner to continue with only essential cookies. Privacy Policy