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LinkedIn Cuts More Than 700 Jobs As Demand Decreases

May 9, 2023 thehrobserver-hrobserver-linkedin

LinkedIn, which has 20,000 employees, will cut roles in its sales, operations and support teams to help make quicker decisions.

LinkedIn said on Monday it would cut 716 jobs as demand wavers; moreover, they will shut down its China-focused job application.

“With the market and customer demand fluctuating more, and to serve emerging and growth markets more effectively, we are expanding the use of vendors,” LinkedIn CEO Ryan Roslansky wrote to the employees, according to Reuters. 

LinkedIn, which has 20,000 employees, will cut roles in its sales, operations and support teams to help make quicker decisions.

The company that is owned by Microsoft has grown revenue each quarter during the last year; however, it wants to cut layers. Linkedin makes money through ad sales, charging for subscriptions to recruiting and professionals who use the network to find new hires.

The CEO said that these job cuts will lead to creating another 250 new jobs. According to  Layoffs.fyi, tech companies globally have cut down more than 270,000 tech jobs. 

A LinkedIn spokesperson told Ruters that the vendors were “external partners” who could take new and existing work as they can apply to the new roles. 

Meanwhile, LinkedIn said it will not continue the jobs app that it offers in China after it decided in 2021 to mostly withdraw from the country, due to the “challenging” environment. InCareers, which was the only remaining app, will be phased out by Aug. 9, LinkedIn said.

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

“LinkedIn will retain a presence in China to help companies operating there to hire and train employees outside the country,” the company spokesperson told Reuters.

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