LinkedIn, the social media platform for professional connections, has announced plans to cut more than 700 jobs and close its app for those seeking jobs in China.
In a letter to employees on Monday, LinkedIn Chief Executive Ryan Roslansky said the company would shed 716 jobs and scrap its job-hunting app in China in response to slowing revenue growth and changing customer behaviour.
The company had introduced a unique domestic version of the career networking platform operated locally in order to comply.
In 2021, new sign-ups for the LinkedIn app in mainland China were suspended by the firm, which referenced a 'significantly more challenging operating environment and greater compliance requirements in China'.
Microsoft then replaced it with a simplified version called InCareer, which allowed local professionals to continue to find and apply for jobs as well as stay connected with their network.
A LinkedIn spokesperson said these vendors were “external partners” who would take on new and existing work.
Roslansky said the product and engineering teams would be responsible for the technology roadmap of the company while the business productivity team would be phased out and partly integrated into other parts of the business.
He said 250 new jobs would be created in operations, new business and account management teams from 15 May.
LinkedIn has about 20,000 employees globally.
The company’s China-based jobs app, InCareer, would shut from 9 August, with the company to focus on helping companies in China to hire, market and train abroad, Roslansky said. Jobs in product, engineering, corporate, sales and marketing in China would go.
“Though InCareer experienced some success in the past year thanks to our strong China-based team, it also encountered fierce competition and a challenging macroeconomic climate,”