is the latest notable tech company to announce a round of mass layoffs. It’s letting 716 staff go and shutting down its job search app in China. According to LinkedIn CEO Ryan Roslansky, these cuts were a result of changes in customer behavior and slower revenue growth despite record levels of engagement on the platform and “meaningful progress creating economic opportunities for our members and customers.”
In 2021, LinkedIn decided to phase out its Chinese social networking features and rolled out a job board app for Chinese users called InCareer. However, despite finding some success, InCareer encountered fierce competition and challenging macroeconomic conditions in China, leading Roslansky to announce its shutdown by August 9th.
LinkedIn is shifting its strategy in China toward helping companies based there recruit and train workers from other countries. As a result, it will reduce the headcount of its local corporate, sales, and marketing divisions, including product and engineering teams in China. While it remains unclear how many of the layoffs will occur in China, LinkedIn plans to open over 250 positions in other areas, such as operations, new business, and account management, starting next week.
The layoffs account for approximately 3.5% of LinkedIn’s overall headcount, with approximately 20,000 people working at the company. However, LinkedIn is not the only tech firm to announce significant layoffs recently. Its parent company, Microsoft, announced similar measures for its digital media and advertising departments earlier this year, while Google, Uber, and IBM have also undergone massive layoffs in recent times.
All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission. All prices are correct at the time of publishing.
Denial of responsibility! TechCodex is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessory action within 24 hours.
Alex Smith is a writer and editor with over 10 years of experience. He has written extensively on a variety of topics, including technology, business, and personal finance. His work has been published in a number of magazines and newspapers, and he is also the author of two books. Alex is passionate about helping people learn and grow, and he believes that writing is a powerful tool for communication and understanding.
