The professional-oriented social network LinkedIn, owned by Microsoft, has reported that it will carry out a workforce adjustment that will mean the cut of 716 professionals, in addition to announcing the closure in August of InCareer, its application for China.
In an email to employees, LinkedIn CEO Ryan Roslansky explained that the company is seeing changes in customer behavior and slower revenue growth.
The company intends to refocus its global business organization for the next phase of growth through increased agility and growth heading into fiscal year 2024, including reorganizing how work gets done, increasing agility, and aligning teams for growth.
In this way, LinkedIn will remove layers from the organization, reducing management roles and expanding responsibilities to make decisions faster, while investing in profitable growth opportunities and ensuring they have the right roles for the work required. It means both the reduction of roles and the opening of more than 250 new positions in specific segments, new businesses and account management teams starting May 15.
On the other hand, the company has announced that it will focus its strategy in China on helping companies that operate in the Asian giant to hire, market and train abroad, which will mean maintaining the Talent, Marketing and Learning businesses, while phase out InCareer, the local employment app in China, by August 9, 2023.
“While InCareer had some success last year thanks to our strong China-based team, it was also met with fierce competition and a challenging macroeconomic climate,” Roslansky acknowledged.
LinkedIn had already withdrawn the local version of its portal for China in 2021 due to “a significantly more challenging operating environment and higher compliance requirements” in the Asian giant, then launching its independent employment application.
(Reference image source: Greg Bulla, Unsplash)
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