LinkedIn announced the cut of 716 jobs and the closure of its application in mainland China
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The platform for professionals recently reported that the main reason for this decision is the slow growth of its income.
The world's largest US social media platform for professionals, LinkedIn, reported this week that it will cut 716 jobs and shut down its InCareer app for mainland China by August 9 this year.
According to a letter published Monday by LinkedIn CEO Ryan Roslansky, the decision to shut down is driven primarily by slow revenue growth and changing user behavior.
In this regard, Roslansky noted that “as we guide LinkedIn through this rapidly changing landscape, we are making changes to our global business organization and our strategy in China that will result in reduced roles for 716 employees,” he said.
The CEO of the California-based company added that “as we plan for fiscal year 2024, we expect the macroeconomic environment to remain challenging. We will continue to manage our expenses while investing in strategic growth areas,” he stated.
With this decision, LinkedIn joins the other platforms and technology companies that have taken the initiative to reduce their expenses, reducing their payrolls not only in the United States but also in all the countries in which they operate.
LinkedIn, owned by Microsoft, would be the last application to operate in mainland China after YouTube, Facebook, and Twitter stopped working more than ten years ago, and in 2010, Google decided to leave as well.