LinkedIn is laying off 5% of its staff Wednesday (May 13), Reuters reported Wednesday, citing unnamed sources. The company is reorganizing teams and focusing on growing areas of its business, according to the report. While some technology companies have cited their adoption of artificial intelligence as a reason for layoffs, LinkedIn did not do so, the report said. The company employs more than 17,500 full-time workers, per the report. Reached by PYMNTS, LinkedIn said in an emailed statement: “As part of our regular business planning, we’ve implemented organizational changes to best position ourselves for future success.” Bloomberg also reported Wednesday that LinkedIn is cutting jobs, but the media outlet did not specify the scope of the reductions. It said the reductions affect engineering, product, marketing and other job functions. The report cited a memo to LinkedIn employees from LinkedIn CEO Daniel Shapero, in which the executive said the company must deliver more to users and operate more profitably. LinkedIn’s parent company, Microsoft, has been cutting jobs over the past few years as it invests in AI infrastructure, per the report. Shapero became CEO of LinkedIn on April 22, according to a company press release. He is responsible for running the company and reports to Ryan Roslansky, executive vice president of LinkedIn and Microsoft Office, according to the release. “LinkedIn’s leadership is changing, but our mission remains the same: connect the world’s professionals to make them more productive and successful,” the company said in the April 22 press release. During Microsoft’s…
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