Business social networking site LinkedIn is making 10% of its
workforce redundant to cut costs and cope with the recession.
LinkedIn is making around 40 of its staff redundant out of a
total of about 370.
The cuts come after the firm recently won another round of
funding from its investors.
The cuts are the latest to be announced by a web-based company,
with
Wired.com getting rid of a quarter of its staff in response to the
recession.
With an expanding user base, LinkedIn was recently valued at
$1bn (about £645m).
It will be hoping the recession does not hit that valuation too
much, what with the number of redundancies hitting the firms of its
corporate users.
