Microsoft-owned LinkedIn is cutting 716 jobs out of its estimated 20,000 workforce as part of a strategic shift aimed at adapting to a rapidly changing market. The company will also be shutting down its InCareer app in China and phasing out its product and engineering teams in the country.
Joining the recent wave of tech layoffs, LinkedIn CEO Ryan Roslansky explained that the layoffs were due to the company's plans to refocus its Global Business Organization (GBO).
"With the market and customer demand fluctuating more, and to serve emerging and growth markets more effectively, we are expanding the use of vendors," Rolansky explained.
The CEO also noted that despite reducing roles, LinkedIn will also be opening up over 250 new roles in business, operations, and account management teams starting May 15.
"[We’ve] learned we need to re-organize for greater agility and growth in FY24 and beyond and are focused on three themes – reorganizing how work gets done, becoming more agile, and aligning our teams for growth,” he added.
LinkedIn To Scrap InCareer China Jobs App
In line with its Go Global strategy, the business social media platform is phasing out its China-based job app InCareer as it assists Chinese companies in wiring employees and “maintaining our Talent, Marketing, and Learning businesses.”
InCareer is slated for removal on August 9, 2023.
The standalone job app served as the localized version of LinkedIn in China, connecting thousands of recruiting agencies with China-based professionals. in While it proved successful in previous years, the company said that it also encountered “fierce competition and a challenging macroeconomic climate.”
In light of the layoffs, Roslansky shared LinkedIn’s commitment to supporting its impacted employees through severance pay, continued health coverage, among other services. The company also vows to help former employees find a new role if there's a skill fit.
LinkedIn is one of the latest tech giants to lay off its employees, joining the likes of Amazon, Alphabet, and Meta which have cut thousands of jobs in the last six months.