LinkedIn, a social media site for business connections, has announced its intention to close its app for Chinese job seekers as well as lay off more than 700 employees.
According to Aljazeera, following losses at Google, Meta, and Amazon, job cuts are the most recent layoffs to affect the technology sector in recent months.
In response to the slow revenue growth and shifting consumer behavior, LinkedIn Chief Executive, Ryan Roslansky announced in a memo to staff on Monday that the business would eliminate 716 jobs and also discontinue its job-hunting app in China.
Roslansky added, “In order to realize our objective in a shifting market, we must continually have the conviction to adapt our strategy.”
According to Roslansky, the adjustments will involve the creation of 250 new roles and the merging of some teams, as well as the reduction of managerial roles and the expansion of responsibility “to make decisions more quickly.”
He declared, “As we turn 20, we are entering a new decade for LinkedIn, one that will possibly be the most significant we’ve ever known.
“LinkedIn is more important than ever in assisting our members and customers in navigating these changes in order to access economic opportunities.
“AI is just starting to drive changes in the global economy and labor market.”
