I'm surprised it took this long for LinkedIn to do layoffs. The amount of recruiters looking for candidates, tech companies hiring, etc. has gone down since the beginning of the year. As such, the income from LinkedIn that is tied to job postings has decreased. In order to continue looking good on paper they have decided then to layoff employees to cut costs.
The same thing has happened at other companies that make money from job postings.
The same thing has happened at other companies that make money from job postings.