Tech layoffs are back: LinkedIn to cut another 668 jobs, Flexport to shed 600

Technology company layoffs continue, my fellow Daily Crunchers. In today’s top story, LinkedIn confirms it will cut 668 jobs — this brings it up to 1,400 this year if you are keeping count — as the company leans into AI. Meanwhile, Flexport is getting its house in order since ousting its CEO. However, that restructuring is coming with some layoffs of about 20% of its workforce.

Meanwhile, General Catalyst and European early-stage fund La Famiglia came together to invest in European startups. Read how the partnership will work.

And if you were wondering if people cared about AI apps, a new study finds they do. Well, at least Mac users do — to the tune of 42% using AI apps daily. Get the scoop.

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More top reads

Now you can wear your favorite Spotify artist: The entertainment streaming service is launching a personalized in-app Merch Hub. Check it out.

It’s an AI kind of day: Creative Force closes on $8.9 million to give e-commerce workflows an AI treatment. Marketing just got a little easier.

Seeding rounds: Startup valuations may be coming down, but Alex notes that seed investments are going the other way, leading him to ask: Will seed deals ever stop getting more expensive? (TC+)

X meets a fine: Australia fines X for failing to provide information about child abuse content. X left some questions blank.

More AI: YouTube gets new AI-powered ads that let brands target special cultural moments. Get to know Spotlight Moments.

All the tools in the palm of your hand: Live commerce startup TalkShopLive launches a new app for sellers to broadcast on mobile. See why this feature was a consistent ask by users.

Seeing is believing: Xpanceo, a deep tech startup, raises $40 million to focus on smart contact lenses. It’s a computer, but in your eye.

This company is actually full of hot air: Urban Sky closes on a $9.75 million Series A to scale Earth-imaging operations using reusable balloons. Check out the view from up there.

Compliance is complex: Leucine, now with $7 million in new funding, is out to make drug manufacturing compliance less onerous. Here’s how.

ByteDance means business: ByteDance’s video editor CapCut targets businesses with AI ad scripts and AI-generated presenters. Meet CapCut for Business.

Data data everywhere: Observability startup Pantomath lands $14 million to automate data pipelines. Read more.

Weekend warriors you may have missed:

Where’s the innovation in induction kitchens? (TC+)

How founders can cut through the noise and find events that are actually worth it (TC+)

How roboticists are thinking about generative AI

How generative AI is creeping into EV battery development

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