LinkedIn, the Microsoft-owned professional networking platform, has announced that it will cut over 700 jobs and shut down its China jobs app, InCareer. Ryan Roslansky, LinkedIn’s chief executive, said that the job cuts and changes were due to economic conditions and the need to make the business more agile. The company will be expanding the use of vendors, reducing management roles, and broadening responsibilities to make decisions more quickly. The product and engineering teams will be responsible for the company’s technology roadmap, while the business productivity team will be phased out and partly integrated into other parts of the business.
The move comes amid a challenging operating environment in China, where the company’s China-based jobs app, InCareer, will shut down from 9 August. The company will focus on helping companies in China to hire, market, and train abroad, and jobs in product, engineering, corporate, sales, and marketing in China will go. In the past year, InCareer experienced some success, thanks to the company’s strong China-based team, but also encountered fierce competition and a challenging macroeconomic climate.
LinkedIn’s parent company, Microsoft, has already cut 10,000 jobs, while Facebook’s parent company, Meta, has shed 21,000. Google has cut 12,000 jobs, and Amazon has laid off 27,000 workers. According to Layoffs.fyi, which has been tracking the fallout, more than 270,000 tech jobs globally have been cut in the past six months.
Roslansky said that US-based employees would be entitled to severance pay, continuing health coverage, and career transition services, while the entitlements of those outside the US would depend on their countries’ requirements. He also said that 250 new jobs would be created in operations, new business, and account management teams from 15 May.
The move to cut jobs and shut down InCareer highlights the challenges faced by tech companies in China, where regulators have been tightening their grip on the internet in recent years. The LinkedIn platform shut down in China in 2021, citing a “challenging operating environment” amid reports that Chinese internet regulators wanted more oversight. Facebook and Twitter were already banned in China, while Google pulled out in 2010.
LinkedIn’s decision to cut jobs and shut down InCareer is a reflection of the challenging economic conditions and need for agility that many tech companies are facing in China. The move highlights the difficult operating environment that tech companies must navigate in the country, where regulators are tightening their grip on the internet. The job cuts and changes at LinkedIn are likely to have a significant impact on its employees, and it remains to be seen how the company will adapt to the changing landscape of the tech industry in China.
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