Microsoft-owned LinkedIn announced on Monday that it cut almost 700 employees, with most coming from the engineering organization, according to a memo viewed by CNBC. Cuts also came in the company’s finance and human resources groups, according to a person familiar with the situation who asked to remain unidentified because they were not authorized to discuss the changes. The reductions come as the business-oriented social network has seen year-over-year revenue growth slow for eight consecutive quarters. It grew just 5% in the second quarter, Microsoft said in July. “As we continue to execute on our FY24 plan, we need to also evolve how we work and what we prioritize so we can deliver on the key initiatives we’ve identified that will have an outsized impact in achieving our business goals,” LinkedIn executives Mohak Shroff and Tomer Cohen wrote in the memo. “This means adapting our organizational structures to improve agility and accountability, establishing unambiguous ownership and driving improved efficiency and transparency through reduced layering.” Microsoft announced in January that it was cutting 10,000 employees, and additional ones following in July. The slimming down comes as Microsoft’s overall revenue growth has slipped, pushing CEO Satya Nadella to lower costs across the company. LinkedIn is now ramping up hiring in India, according the person familiar. These new layoffs are in addition to the 10,000 from January, a spokesperson said. “While we are adapting our organizational 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,” LinkedIn said in a blog post. “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.” Reuters reported on the cuts earlier. Here’s the full memo: Team, We did not expect to share this important update with you all in the midst of such challenging times, but in the spirit of creating clarity, Tomer and I wanted to share some news regarding changes we are making to our orgs. As we continue to execute on our FY24 plan, we need to also evolve how we work and what we prioritize so we can deliver on the key initiatives we’ve identified that will have an outsized impact in achieving our business goals. This means adapting our organizational structures to improve agility and accountability, establishing unambiguous ownership, and driving improved efficiency & transparency through reduced layering. These decisions result in the reduction of 563 roles across R&D. Broken down there are 137 Engineering management roles and 38 Product roles being reduced. Additionally, there will be 388 role reductions across our Engineering team in an effort to better align resources to our FY24 plan, and we will open a small number of new roles to fill critical gaps in our ambitious roadmap. For those who are directly affected by these changes, you will receive a calendar invitation within the next hour, titled “Required Attendance: R&D Role Reductions”. This meeting will provide you with detailed information on how we will support you through this transition. If you do not receive this invitation, expect communication from your Product or Engineering Executive leader soon with specifics pertaining to your organization and how we will collectively navigate through these changes. Tomer and I made these decisions with deep consideration towards the long-term needs of our business and with the acknowledgement that every affected individual has played a valuable role in the growth and success of Linkedin. In the coming days, our focus will be on supporting each other and discussing the ways we will move forward, with our vision, mission, and values as our guides. Today, it is imperative that we support our colleagues navigating this transition. Let’s continue to embrace empathy and understanding through these difficult times and use these as a cornerstone for the support we provide each other. Mohak & Tomer
银行业也在不停给社会输送人才：PNC裁4%，LendingClub 年内二度裁人14%。
不是几个大银行财报都很亮眼吗？
靠招人公司赚钱
都是骗子，jpm unrealized loss 40b 都藏着呢
估计要砍不少人
Advertising
四大银行因为基础利率上升财报还行，小的FinTech就不行了。比如说LendingClub， SOFI，Upstart, Affirm等等.
主要没人搞房贷了吧
Retail bank 还行吧
信用卡公司好像还行，discover，America express， synchrony这些，利息收入增加了
信用卡公司在美国是monopoly ，3%的fee, 技术落后，行业垄断。
大大小小的biotech，尤其是那些小的biotech都已经两三轮了，融资不好，科研没有大进展，大致40-70%的layoff了
説話這麽可愛，給你點個
Linkedin 不就是软家的吗？
lendingclub不算银行吧
看不懂。
Linkedin主要靠公司招人广告和recruiter的premium account，个人用户收费占比很少。市场不景气，公司不找人，自然就没啥广告收入了
LendingClub买了一家小银行可以吸储，这样就可以保持更多的贷款在手上赚更多的钱。Fintech买小银行是业内普遍的行情，否则更加难以生存！
我领90%来自于公司的招聘，该部门叫LTS， LinkedIn Talent Solution. 广告部门的收入和LTS比起可以忽略不计。
因为疫情前后tech行业很多工作是被注水注出来的。 想想酒驾开车死人的那个小网红。本来是个business analyst.
匿名用户-USCXQ | 添加认证 | 昨天 23:53 来自APP |倒序浏览
看到自己被加到组里了，拿到了名单 508人，有sde 有mgr/sr mgr ..
不是媒体，是劳工部统计数据。这是稀宗经济的成果！
The reductions come as the business-oriented social network has seen year-over-year revenue growth slow for eight consecutive quarters. It grew just 5% in the second quarter, Microsoft said in July.
“As we continue to execute on our FY24 plan, we need to also evolve how we work and what we prioritize so we can deliver on the key initiatives we’ve identified that will have an outsized impact in achieving our business goals,” LinkedIn executives Mohak Shroff and Tomer Cohen wrote in the memo. “This means adapting our organizational structures to improve agility and accountability, establishing unambiguous ownership and driving improved efficiency and transparency through reduced layering.”
Microsoft announced in January that it was cutting 10,000 employees, and additional ones following in July. The slimming down comes as Microsoft’s overall revenue growth has slipped, pushing CEO Satya Nadella to lower costs across the company.
LinkedIn is now ramping up hiring in India, according the person familiar.
These new layoffs are in addition to the 10,000 from January, a spokesperson said.
“While we are adapting our organizational 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,” LinkedIn said in a blog post.
“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.”
Reuters reported on the cuts earlier.
Here’s the full memo:
Team,
We did not expect to share this important update with you all in the midst of such challenging times, but in the spirit of creating clarity, Tomer and I wanted to share some news regarding changes we are making to our orgs.
As we continue to execute on our FY24 plan, we need to also evolve how we work and what we prioritize so we can deliver on the key initiatives we’ve identified that will have an outsized impact in achieving our business goals. This means adapting our organizational structures to improve agility and accountability, establishing unambiguous ownership, and driving improved efficiency & transparency through reduced layering.
These decisions result in the reduction of 563 roles across R&D. Broken down there are 137 Engineering management roles and 38 Product roles being reduced. Additionally, there will be 388 role reductions across our Engineering team in an effort to better align resources to our FY24 plan, and we will open a small number of new roles to fill critical gaps in our ambitious roadmap.
For those who are directly affected by these changes, you will receive a calendar invitation within the next hour, titled “Required Attendance: R&D Role Reductions”. This meeting will provide you with detailed information on how we will support you through this transition.
If you do not receive this invitation, expect communication from your Product or Engineering Executive leader soon with specifics pertaining to your organization and how we will collectively navigate through these changes.
Tomer and I made these decisions with deep consideration towards the long-term needs of our business and with the acknowledgement that every affected individual has played a valuable role in the growth and success of Linkedin. In the coming days, our focus will be on supporting each other and discussing the ways we will move forward, with our vision, mission, and values as our guides. Today, it is imperative that we support our colleagues navigating this transition. Let’s continue to embrace empathy and understanding through these difficult times and use these as a cornerstone for the support we provide each other.
Mohak & Tomer