LinkedIn To Cut 716 Jobs, Phase Out Presence From China By Aug 2023

Amidst the circulating news related to layoffs, here is another heart-wrenching news for the employees of LinkedIn. LinkedIn, a social networking platform for people seeking jobs worldwide is a subsidiary company of Microsoft Corporation. The main focus of this social media platform is on business professionals. On Monday, the platform announced of cutting off 716 jobs. Due to decreasing demand, LinkedIn has also shut down job applications from China.

Amidst the weakened economic global turmoil, numerous technology companies are cutting head counts. Layoffs are pretty common these days, to generate profit and revenue. Previously, It had 20000 workers. The company should have had amazing revenue generation last year in each quarter. However this year due to decreasing demand, layoff is inevitable.

In February 2023, LinkedIn stopped recruiting people in the recruitment department. Moreover, until now, the particular percentage of affected individuals by this layoff is unclear.

Statements By Ryan Roslansky, CEO of LinkedIn

According to a report released recently, LinkedIn has cut roles in the support team, operation steam, and sales team to streamline the firm’s operations. To enable quick resolution of decisions, removing layers was mandatory. This was the statement given by the CEO of the company, Ryan Roslansky.

Ryan Roslansky, in an email, wrote, “With the market and customer demand fluctuating more, and to serve emerging and growth markets more effectively, we are expanding the use of vendors.”

The company stated “Despite our initial progress, InCareer faced fierce competition and a challenging macroeconomic climate, which ultimately led us to the decision of discontinuing the service,” to the users of the platform.

It’s alternative platform which is available in China as InCareers, will no longer be available after August 9, 2023. InCareers is a china based job search application. However, LinkedIn will not phase out its presence in China completely. Rather, retaining its presence will help Chinese companies to recruit new people and train their workers overseas.