In a statement released on Wednesday, popular professional networking site LinkedIn said that new information uncovered by the company suggests that the massive 2012 data breach was much worse than it had thought at that time.

LinkedIn, a business-oriented social networking service, has cut its full-year profit forecast, and even cited a slower growth at its hiring business.

Shares of LinkedIn fell by nearly 27% in after-hour trading on Thursday. LinkedIn’s weak view resulted from the changes that occurred in currency exchange rates, costs of its pending acquisition of Lynda.com and other items.

LinkedIn has reached an agreement to pay $6m (£3.6m) in wages and damages after it was found by regulators that its employees were paid lesser than the hours they actually worked for. Now, 359 former and current employees will be paid by the company, with $3.3m in unpaid wages and $2.5m in damages.

In a recent announcement via a blog post, LinkedIn has revealed that it has launched a dedicated 'Job Search' app for the Apple iPhone. The app is essentially aimed at LinkedIn users who use mobile devices to search the social network to look for new jobs.

LinkedIn's newly-announced Job Search app is initially compatible only with the Apple iPhone; and is available for the US users only.

LinkedIn has revealed in a recent post on its official bog that it has launched a new standalone Job Search app for the iPhone. The app has specifically been designed to facilitate the users in finding as well as applying for jobs.

LinkedIn's new Job Search app for iPhone is initially available only in the US; and it can now be downloaded in the Apple App Store.