LinkedIn will lay off 10% of its staff, firing about 36 people. Company rep Kay Luo told Reuters the cuts will help the professional networking site remain profitable.
LinkedIn is also a Sequoia investment, so the cuts likely have much to do with that VC firm’s October “RIP Good Times” terrorfest.
It’s a blow for LinkedIn, which began trumpeting its profitability to media outlets as long ago as March 2006.
In May 2007, LinkedIn threw an “In The Black” party for employees celebrating a year of profitability. We found some pictures of the event and — not trying to be too maudlin — embedded them below.
Ah, the era of folding chairs and finger food — such gilded exuberance we in our blue shirts and khakis hardly deserved.
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