Job search platform LinkedIn is planning to announce cut 5% of its workforce news agency Reuters reported as saying on Wednesday.
The announcement will likely be made later in the day, the report said, adding that the layoffs come as the microsoft-owned company reorganises teams and concentrates staff on areas where its business is growing.
The potential layoffs come in the backdrop of a rising year-on-year revenue. According to Microsoft's securities filings, the revenue has risen 12% in the latest ended quarter.
The report underscored that an AI takeover of jobs is not the rationale for the job cuts.
Currently, LinkedIn has over 17,500 full-time employees globally, according to its website. With over 1.3 billion members, it is the world's largest professional networking platform.
Before its acquistion by Microsoft, the company publicly listed on the New York Stock exchange, following an initial public offer (IPO) in 2011. Later, in 2026, Microsoft acquired the LinkedIn for $26.2 billion.
As of 10:30 a.m. EST, microsoft's stock ticked 1.15% lower to trade at $403.02.
2026: The Year Of Layoffs?
The tech industry saw the highest layoffs in two years in March 2026. Over 46,500 employees were let go, according to data compiled by Layoffs.fyi.
Up to 1,03,571 tech employees were dismissed from 131 tech companies so far in 2026, as per the website on May 13.
April and May saw comparitively lesser job axing, with the total number of dismissals standing at over 11,000 and over 9,000 (so far), respectively.
Oracle had a considerable lead in the volume of employees that it laid off across the globe in March, with up to 30,000 employees fired. The official reason it gave was that they were part of a "broader organizational change".
As per reports, the driving factor for the layoffs seem to be tech companies attempting to create more capital to ramp up investments in AI infrastructure.
Meta is also planning to let go of 8,000 employees (10% of its workforce) so far according to Reuters, with additional rounds planned in the second half of 2026.
These layoffs may also have negative externalities for the companies, as The Wall Street Journal's report stated that it might lead to a decline in employees needed to plan business models, optimise customer care, and safely deploy AI tools.
ALSO READ: Meta Layoffs: Which Departments Will Be Affected, What Amount Will Laid Off Employees Receive
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