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LinkedIn cuts more than 600 workers, about 3% of workforce

FILE - A sculpture on a terrace outside the offices of LinkedIn is shown on September 22, 2016, in San Francisco, California in the US.
FILE - A sculpture on a terrace outside the offices of LinkedIn is shown on September 22, 2016, in San Francisco, California in the US. Copyright AP Photo/Eric Risberg, File
Copyright AP Photo/Eric Risberg, File
By AP
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Several technology companies have cut jobs this year amid economic uncertainty.

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LinkedIn will lay off hundreds of employees amounting to 3 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 itfor $26 billion (€24.3 billion) in 2016.

LinkedIn keeps growing and said its annual revenue surpassed $15 billion (€14.2 billion) for the first time in the fiscal year that ended in June.

The service, headquartered in Sunnyvale, California, makes money from advertisements on the platform as well as from users who pay to subscribe for premium features.

LinkedIn reports having about 19,500 employees.

Microsoft as of July had a global workforce of 221,000 full-time employees, with more than half of those in the U.S.

It's adding thousands more as part of its $69 billion (€65.4 billion) acquisition of California video game maker Activision Blizzard, which closed on Friday. As of late last year, Activision Blizzard reported having 13,000 employees.

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