Over 700 LinkedIn employees will be let go by the middle of 2023, and the company will stop supporting its app in China.
CEO Ryan Roslansky of the social media network said in an open letter that the changes were made to increase the site’s responsiveness and to better align teams for expansion.
The Business Productivity group will no longer exist, with fewer managers.
He stated that adapting one’s plan to meet the demands of a changing market is essential to seeing one’s goal come to fruition.
The Microsoft-owned firm will stop supporting its local employment app, InCareer, in China on August 9th. InCareer connects professionals from all over the world.
According to the letter, sluggish revenue growth and a change in client preferences prompted the layoffs.
Roslansky claims that the company’s plan to streamline operations will be mitigated by the addition of 250 positions across the company’s operations, new business, and account management teams.
Workers who have lost their positions on impacted teams may apply for these openings.
After pulling most of its operations out of China in 2021, LinkedIn has been reduced to only one component: InCareer, which focuses solely on the Chinese market.
Even while the app was popular in China, Roslansky said it was met with “fierce competition” and that the company’s China market strategy will center on supporting Chinese businesses in finding and training personnel in other countries.
These reductions follow in the footsteps of layoffs at several of the world’s most powerful companies. There have been layoffs at Microsoft, which owns LinkedIn’s parent business, Amazon, McKinsey, and Meta, within the previous six months.
