Report: Microsoft’s 10,000 layoff plan will affect LinkedIn
According to reports, Microsoft's plan to cut about 10,000 jobs will affect LinkedIn.
Microsoft Corp. ( MSFT ) plans to cut about 10,000 jobs, according to reports, and LinkedIn ( LNKD ) will be affected.
The Information reported on Monday that LinkedIn made layoffs in its recruiting department that day. LinkedIn is Microsoft’s social network focused on business and employment.
The exact number of layoffs in LinkedIn’s recruiting department was not disclosed. LinkedIn did not immediately respond to MarketWatch’s request for comment late Monday.
Microsoft said in January this year that it would lay off about 5% of its global workforce, hoping to adjust its cost structure to cope with declining revenue.
About a week later, the tech giant reported a disappointing quarterly profit and warned that revenue growth would continue to decelerate this year.
Microsoft shares have risen 13 percent this year, but have fallen 8 percent over the past 12 months. The Dow Jones index, in which Microsoft is a component, is up 3% this year and has fallen 1% over the past year.
(This article is translated from MarketWatch)
