.gif)
LinkedIn Cuts 10 Percent of Jobs
By Anna Johnson on November 12th, 2008Professional social network, LinkedIn plans to cut 36 of its 370 employees, which amounts to just under 10 percent of its workforce. Apparently, LinkedIn will reassign some of the employees, rather than let them go altogether.
LinkedIn isn’t running out of money – it recently closed a $22.7 million funding round, which in turn followed a $53 million venture capital injection in June. However, it’s presumably being cautious in light of the current economic environment and slow-down in online advertising growth.
Source: Jason Kincaid, “LinkedIn Cuts 10% Of Staff,” TechCrunch, November 5, 2008
