Microsoft's LinkedIn lays off 668 people as part of broader restructuring
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Microsoft's (NASDAQ:MSFT) LinkedIn unit said on Monday that it is laying off approximately 668 people as part of a broader restructuring due in part to slowing revenue growth.
The cuts, which are spread across its engineering, product, talent and finance teams, come as the unit is "adapting our organizational structures and streamlining our decision making," LinkedIn said in an update.
Additionally, LinkedIn said it is going to continue to invest in "strategic priorities for our future and to ensure we continue to deliver value for our members and customers."
Microsoft (MSFT) shares rose nearly 1.9% in mid-day trading.
These are the second job cuts for LinkedIn this year, as it announced 716 layoffs in May. 
LinkedIn has roughly 950M members across the world and generated 5% growth in Microsoft's (MSFT) most recent quarter.
Redmond, Washington-based Microsoft is slated to report fiscal first-quarter results after the close of trading on October 24. A consensus of analysts expect the U.S. tech giant to earn $2.65 per share on $54.52B in revenue.
Microsoft purchased LinkedIn in 2016 for $26.2B, which was its largest acquisition until it closed its deal to acquire video game maker Activision Blizzard for $69B earlier this month.

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