We’re approaching the middle of this year, and the wave of mass layoffs that began in 2022 among tech companies doesn’t seem to be over. We receive announcements from well-known companies almost every week. personal discount. More than 17,000 jobs were lost in April, and more than 3,000 have been laid off so far in May, according to Crunchbase data.

LinkedIn has not become an exception. The world’s largest employment social network, who has just turned 20, will lay off 716 employees. Ryan Roslansky, CEO of the Microsoft-owned company, said in a blog post this week that the moves were in response to “changes in customer behavior and slower revenue growth.”

LinkedIn is also reducing staff

The platform’s chairman added that he is driving changes amid a “rapidly changing” and “challenging macroeconomic environment” global landscape. Regarding these factors, the company global restructuring business involving the shutdown of the InCareer app in China, in addition to the layoffs.

The relationship between the US platform and the Asian country has been marked by tension from the very beginning. LinkedIn first arrived in China with this name in 2014, but came with a local version to meet the country’s requirements to operate in this market. The strategy worked. As of 2021, LinkedIn had 50 million users, according to Business of Apps data.

In terms of size, the Chinese market was the third most important market for LinkedIn after only the United States and India. That same year, however, it announced it would suspend registrations to focus. comply with regulationshowever, he later decided to abandon the LinkedIn brand and its entire social platform and replace it with InCareer, a platform where only job postings can be posted.

The social network has described its presence in China as a “challenging operating environment”, likely due to tight controls on what’s posted on the network and threats to freedom of expression. In fact, LinkedIn was the last of the major social networks still in existence in the United States. Facebook, Twitter and YouTube, for example, left the country a long time ago.

With this latest move, InCareer will cease operating and LinkedIn will cease to exist on August 9 this year. will be significantly diluted, but not completely. Roslansky said that companies operating there will focus their strategy on China to help them recruit, market and train abroad so they will continue to have on-site HR and marketing people.

Images: greg bulla | I’m Sweet

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