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Microsoft-owned professional networking social network LinkedIn plans to lay off 716 jobs and shut down its China-focused app due to fluctuating demand. As reported by Ukrinform, this was
As reported by Ukrinform, this was reported by Reuters.
LinkedIn, which has 20,000 employees, has increased its profits every quarter over the past year, but is laying off workers due to the worsening global economic outlook.
The company’s CEO, Ryan Roslansky, said in a letter to employees that the reduction in sales, operations and support departments is aimed at optimizing the company’s operations and will facilitate faster decision making.
A LinkedIn representative added that vendors are “external partners” to take on new and existing business.
Roslansky noted that the changes will lead to the creation of 250 new jobs. The press secretary of the company said that employees who fall within the scope of the discount can apply for these positions.
The company also announced that its China-focused employment application has been canceled – the operation of the InCareers app will be suspended until August 9.
Such a decision is justified by “tough competition and a tough macroeconomic environment”.
However, LinkedIn will maintain a presence in China to help companies operating in China recruit and train workers from abroad, according to a company spokesperson.
As Ukrinform reported, American online shopping giant Amazon announced that it will lay off an additional 9,000 people.
Source: Ukrinform
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