The impact of Microsoft Corp.’s plan to lay off about 10,000 workers will reportedly be felt at LinkedIn.
The Information reported Monday that LinkedIn, the Microsoft-owned business- and employment-focused social network, laid off workers in its recruiting department Monday.
Specific numbers were not available. LinkedIn did not immediately respond to MarketWatch’s request for comment late Monday.
In January, Microsoft said it would lay off about 5% of its global workforce as it seeks to “align cost structure” with declining revenue.
About a week later, the tech giant reported disappointing quarterly profits and warned that revenue deceleration was expected to continue into 2023.
Microsoft shares
MSFT,
+3.12%
are up 13% year to date, but down 8% over the past 12 months. The Dow Jones Industrial Average
DJIA,
+1.11%,
which counts Microsoft as a component, is up 3% in 2023, and off 1% over the past year.
:max_bytes(150000):strip_icc():focal(762x205:764x207)/Olivia-Newton-John-Jim-Brickman-091924-627404d7832240fcaf2148dd46c2437e.jpg "#Olivia Newton-John Sings About Her ‘Dream’ on Long Lost Recording (Exclusive)")
