LinkedIn lays off more than 600 workers

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LinkedIn said Monday it will lay off hundreds of employees, representing about 3% of the social media company's workforce.

The Microsoft-owned professional network is eliminating around 668 positions across its engineering, product, talent and finance teams.

"Talent changes are a difficult, but necessary and regular part of managing our business," the company said in a statement.

The job cuts follow more than 700 other layoffs LinkedIn announced in May, as well as thousands more this year from parent company Microsoft, which has owned the professional networking service since buying it for $26 billion in 2016.

LinkedIn continues to grow and said its annual revenue surpassed $15 billion for the first time in the fiscal year that ended in June. The service, based in Sunnyvale, California, makes money from ads on the platform, as well as from users who pay to subscribe to premium features.

LinkedIn reports having around 19,500 employees.

Redmond, Washington-based Microsoft as of July had a global workforce of 221,000 full-time employees, more than half of them in the US.

It is adding thousands more as part of its $69 billion acquisition of California video game maker Activision Blizzard, which closed on Friday . At the end of last year, Activision Blizzard reported having 13,000 employees.

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