Business-focused social-networking site LinkedIn announced Wednesday that it is cutting 10 percent of its workforce, or about 36 jobs, as part of a restructuring to focus on its revenue-producing businesses.
Company representatives did not immediately respond to requests for comment.
The layoffs follow LinkedIn's announcement last month that it had raised an additional $22.7 million in funding from Goldman Sachs, SAP, McGraw-Hill, and longtime investor Bessemer Venture Partners. That round followed a $53 million series D funding round in June that gave LinkedIn a valuation of $1 billion. The latest round of funding brings the total funds raised … Read more