THE LinkedIn made a statement announcing the The company will lay off 716 employees in sales, operations, and support, and will gradually shut down the app that offers local job opportunities in China.
According to the CEO, theThe cuts occurred due to "changes in customer behavior and slower revenue growth." Furthermore, the Layoffs are also linked to the closure of the LinkedIn-owned job app InCareer in China. Although the program achieved some success last year, it also faced stiff competition and a challenging macroeconomic climate in the Asian country.
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The Global Business Organization (GBO), which is a "student-led business and networking organization dedicated to developing globally minded leaders in business and society," will undergo a reorganization. LinkedIn will be making changes to its agility, team alignment, and way of working.r.
According to the CEO, the decision to The discontinuation of the app for the Chinese market was due to "fierce competition and a challenging macroeconomic climate.". The Maimai, main LinkedIn rival In China, it has over 120 million users and attracts people by allowing anonymous posts.
The closure, which is scheduled to be completed on August 9th. With the layoffs, the LinkedIn The Business Productivity team is closing down. In China, the Microsoft platform... It will change its strategy and retain talented professionals in marketing and learning.
According to the latest quarterly report from its parent company Microsoft, LinkedIn recorded an 8% increase in revenue year-over-year. This gain does not prevent layoffs, which mirror what has already occurred in the industry with Google, Amazon, and other big tech companies, including the app's own owner, which will cut 10,000 employees, 5% from its workforce.
At the moment, LinkedIn has 20,000 employees.Even with the planned cuts, the company will open 250 job positions. The opportunities are expected to start being announced on May 15th, in the areas of operations, accounting, and management teams.
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