LinkedIn cuts hundreds of jobs, closes Chinese app for good

Date:
Tue, 09 May 2023 09:01:00 +0000

Description:
More than 700 jobs and an entire app cut in latest LinkedIn cost-saving measures.

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Despite record engagement on the platform, LinkedIn CEO Ryan Roslansky has announced 716 employees will be laid off, accounting for 4% of the workforce (via Layoffs.fyi ).

In a note shared with LinkedIn employees, a greater number of tech workers have been laid off in the first few months of 2023 than in 2022 as a whole, though the precise reason for LinkedIns cutbacks remains misted.

Roslansky blamed shifts in customer behavior and slower revenue growth in his letter to employees, giving no mention to the rise in AI that has been affecting jobs globally in recent weeks. LinkedIn cuts

The companys Global Business Organization (GBO) is the first of two
operations to be under review with the recent announcement. The changes will see teams work more closely together, with a reduction in managerial layers
in the name of better agility.

However, in light of the new skill sets needed to feed LinkedIns growing and seemingly insatiable appetite for artificial intelligence, more than 250 new roles are set to open, knocking a third off the total figure for net redundancies and bringing it down to the 500 mark. Read more

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Alongside the worker cuts, LinkedIn also announced its China-local jobs app, InCareer, is set to be axed by early August 2023.

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 announcement said.

Users have been given until August 9 to download their data, after which it will be deleted. They are also being reminded that other LinkedIn features will remain unaffected.

A plan for the fiscal year ahead is set to be announced in the coming weeks, though the Microsoft-owned company has already indicated that the challenges are expected to continue. Looking for new talent? Check out the best recruitment platforms



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Link to news story: https://www.techradar.com/news/linkedin-cuts-hundreds-of-jobs-closes-chinese-a pp-for-good


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