Personal Finance
10h
1850
Should I marry a lazy girl?
India
9h
747
What do vegetarian Indians eat for protein?
Tech Industry
Yesterday
286
NW required for FU money with no kids, house paid off and 100k expenses per year?
Fitness
10h
1792
Very thin yoga pants
Cars
11h
1160
Electric cars depreciate 10 times faster than gasoline cars
https://www.theinformation.com/articles/microsofts-linkedin-lays-off-staff-amid-hiring-slowdown Microsoft-owned LinkedIn laid off staff in its recruiting department on Monday, the company confirmed to The Information, the latest sign of how Microsoft’s layoffs are rippling through the tech giant. Microsoft said earlier this year it would cut 10,000 people across the company this quarter as part of a broad effort to cut costs amid slowing sales, although it hasn’t disclosed precisely where it will cut. Microsoft has already cut jobs in divisions including its code repository site https://www.theinformation.com/briefings/d780e5, teams related to its https://www.theinformation.com/articles/microsoft-prepares-to-lay-off-thousands-of-employees-including-in-azure-related-units, and its https://www.theinformation.com/articles/microsoft-kills-its-industrial-metaverse-team-after-4-months business, The Information previously reported. Other job cuts occurred in hardware divisions including Xbox, Hololens, and Surface, Bloomberg https://www.bloomberg.com/news/articles/2023-02-10/microsoft-cuts-jobs-in-hololens-surface-xbox-as-layoffs-continue last week. LinkedIn’s job cuts affect staff in its talent acquisition team, a spokesperson said. They come as LinkedIn and the rest of Microsoft slow the pace of hiring, reducing the need for recruiters. The total number of laid off employees was not immediately clear. LinkedIn’s business, which makes money from ads and premium subscriptions, generated $3.9 billion in the December quarter. While that represented a 10% increase from the prior year, ad revenue was affected “more than expected” by a broader decline in advertising spending, Microsoft CFO Amy Hood said during last month’s earnings call. Microsoft’s overall revenue growth slowed to 2% in the December quarter, its weakest growth in more than six years. Microsoft has focused its cuts in areas like recruiting and marketing that https://www.theinformation.com/articles/microsoft-prepares-to-lay-off-thousands-of-employees-including-in-azure-related-units for the company. The current wave of layoffs is Microsoft’s largest since Satya Nadella became CEO in 2014, when he cut roughly 18,000 jobs, or 14% of the company’s staff at the time. See Microsoft’s org chart https://www.theinformation.com/org-charts/microsoft?rc=c48ukx.
Paywall
It says it’s recruiting only? Or does it include others as well?
We had layoffs at Nuance (new Microsoft subsidiary) recently as well. Mainly recruiting afaik
Only the first round. Buckle up.
Less RTO, less foot traffic and less sales for those businesses. Less profits and sales trickle up to big companies. Less sales, less staff needed for bigger companies. Proof is in the news.
Uh oh