LinkedIn is laying off more than 700 employees and canceling job exchanges in China
The professional network LinkedIn wants to change its “China strategy”. Among other things, the Microsoft subsidiary is laying off 716 employees and wants to increasingly rely on freelancers in the future. In addition, the company is completely shutting down its job exchange in China.
LinkedIn recently celebrated its 20th anniversary. Now, just a little later, the company announced the layoff of 716 employees. The background: The Microsoft subsidiary wants to change its “China strategy. This shared LinkedIn CEO
Ryan Roslansky in one official statement with.
LinkedIn completely shuts down job exchanges in China
Accordingly, the professional network is completely ending its job exchange in China. This, in turn, leads to extensive layoffs. This affects the areas of sales, operations and support. On the other hand, according to LinkedIn, the job cuts will also create 250 new jobs.
According to reports, the employees affected by the layoffs can apply for the new positions. From May 15, these will be created in new business areas as well as in customer support. Due to “strong competition and the difficult macroeconomic environment”, the job exchange in China is to be suspended until August 9th.
Layoffs: Slower sales growth and changes in customer behavior
According to LinkedIn boss Roslansky, the platform is currently experiencing a “record engagement”. However, the company has also seen slower revenue growth and changes in customer behavior. For this reason, the Microsoft subsidiary must now adjust its strategy.
Ryan Roslansky said, “While these decisions are critical to our business, they also mean that some of our employees will be leaving LinkedIn to pursue new opportunities.” The company, in turn, is committed to providing full support to those affected.
“US employees who are eligible for benefits will receive a variety of benefits, including severance pay, ongoing health insurance and career transition services,” the LinkedIn CEO said. Benefits for non-US employees would be governed by local employment laws.
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