LinkedIn lays off nearly 700 workers as it moves to exploit AI options – cleveland.com

BusinessPublished: Oct. 16, 2023, 1:45 p.m.LinkedIn announced it will lay off hundreds of workers amounting to about 3% of the social media company’s workforce. The jobs are being eliminated as part of the company’s broader efforts to optimize around artificial intelligence.APSUNNYVALE, Calif. — Microsoft-owned LinkedIn announced Monday it will lay off hundreds of workers amounting to about 3% of the social media company’s workforce.The cuts will affect 688 roles across its engineering, product, talent and finance teams. The job cuts follow 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 in 2016.“Talent changes are a difficult, but necessary and regular part of managing our business,” the company said in a statement.LinkedIn reports having about 19,500 employees.The job positions are being eliminated as part of broader efforts at the company to optimize around artificial intelligence, according to Axios.LinkedIn released new AI product features earlier this month, including an AI-assisted candidate discovery for recruiters, and AI-powered coaching for LinkedIn’s premium subscribers.LinkedIn, headquartered in Sunnyvale makes money from advertisements on the platform as well as from users who pay to subscribe
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