LinkedIn makes 10% of staff redundant

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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.

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