LinkedIn has been laying off employees since last year amid a weakening global economic outlook. The company now has more than 20,000 employees. Over the past six months, more than 270,000 tech jobs have been cut globally, according to Layoffs.fyi.
Photo: Reuters
LinkedIn makes money through advertising sales and charging subscription fees to recruiting and sales professionals who use the network to find potential clients and employees.
In a letter to employees, LinkedIn CEO Ryan Roslansky said the cuts in sales, operations and support teams are aimed at streamlining the company's operations and enabling faster decision making.
“As markets and customer needs become more volatile, and to serve emerging and growing markets more effectively, we are expanding our use of vendors,” Roslansky wrote. A LinkedIn spokesperson said the vendors will be “external partners.”
Mr. Roslansky also said in the letter that the changes would create 250 new jobs. The spokesperson added that employees who would be laid off by the new policy could apply for the new positions.
LinkedIn also said it was phasing out its China-specific jobs app after deciding to largely withdraw from the market in 2021, citing a “challenging” environment. The app, called InCareers, will be phased out on August 9, LinkedIn said.
“Despite our initial progress, InCareers faced intense competition and a challenging macroeconomic environment, leading us to decide to discontinue the service,” the company said in a statement on its website.
LinkedIn will still maintain a presence in China to help companies operating there hire and train overseas employees, a company spokesperson said.
In tech, Amazon recently laid off more than 27,000 people, the largest layoffs in the company’s history. Meta laid off 21,000 people, and Alphabet laid off 12,000 people.
Microsoft, which bought LinkedIn for $26 billion in 2016, has also announced about 10,000 job cuts in recent months.
Hoang Ton (according to FT, Reuters)
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