LinkedIn has cut 716 jobs, taking the baton of layoffs among large technology companies.
Source: Pixabay.com
A social network focused on business professionals has also decided that the local jobs application in China will be closed soon.
In a letter from the company’s executive director, Ryan Roslansky, he says that the firm’s current actions are aimed at optimizing its activities. Over the past six months, companies such as Amazon, LinkedIn’s parent firm Microsoft and Alphabet have reported layoffs.
Ryan Roslansky also reported on the expansion of the use of suppliers, separately noting that the market and the level of consumer demand do not demonstrate stability. He stressed that this solution will help to provide more efficient service to growing markets.
Ryan Roslansky said that after the reduction of the workforce, new jobs will appear. The process of layoffs is logically and theoretically unrelated and has never been associated with a subsequent increase in staff but in this case a special situation. By making changes to the business model, the company will create 250 new jobs for which dismissed employees of the sales, operation, and support departments will be able to apply. In the end, the workforce will still be shrunk.
In 2021, the company decided to gradually decrease its activities in China. Then the firm said that these actions were due to difficult conditions in the Chinese business space. The InCareers app, which is currently only available in China, will cease to function by August 9 this year.
A LinkedIn representative at the same time said that the company does not intend to completely withdraw from the Chinese market. He noted that the firm remains in China to help the local business community hire and train employees outside the country.
LinkedIn was the only major Western social media platform operating in China. The company entered the market of this country in 2014, having previously agreed to comply with all the requirements of the local government. In 2014, US Senator Rick Scott called this move a rude appeasement and an act of submission to China in a letter to LinkedIn executive director Ryan Roslansky and Microsoft boss Satya Nadella.
As we have reported earlier, Shopify Cuts 20% of Staff.
Serhii Mikhailov
Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.
