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LinkedIn is the latest notable tech company to announce a series of mass layoffs. It will lay off 716 people and shut down its job search app in China. LinkedIn CEO Ryan Roslansky said in a note Employees were told the cuts were part of a shift in strategy driven by changing customer behavior and slowing revenue growth. That’s despite the platform seeing record levels of engagement and “making meaningful progress creating economic opportunities for its members and customers.”
In 2021, LinkedIn will shut down its Chinese version, which launched seven years ago, citing difficulties operating in China. They rolled out a job board app for Chinese users called InCareer, but it had no social networking features. Now, according to Roslansky, the company plans to phase out that app by his August 9th. Despite InCareer’s moderate success, Roslansky writes:
LinkedIn is shifting its strategy in China to help companies based there recruit and train workers from other countries. Reduce product and engineering teams in China and reduce headcount in local corporate, sales and marketing departments.As new york times LinkedIn has not disclosed how many layoffs it will make in China.
With about 20,000 people working at LinkedIn, layoffs account for about 3.5% of the total workforce. However, Roslansky said LinkedIn will be opening more than 250 positions in other areas next week, namely operations, new business and account management.
This is just the latest example of widespread job cuts in the tech industry over the past few months. LinkedIn’s parent company, Microsoft, announced in January that he would cut 10,000 employees. Meta, Alphabet and Amazon have also laid off tens of thousands of employees.
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