At LinkedIn, 716 employees will be fired – 250 will be hired10. May 2023
At LinkedIn, 716 employees will be fired – 250 will be hired
San Francisco, 5/10/2023
LinkedIn announced in a memo that it would lay off 716 employees and phase out the China-specific job app InCareer. The job cuts will affect approximately 3.5% of the company’s 20,000 employees worldwide.
LinkedIn launched InCareer in December 2021, shortly after retiring its localized LinkedIn app in China. The app’s closure was attributed to stiff competition and unfavorable macroeconomic conditions. InCareer will now delete all user data by August 9th.
LinkedIn will continue to operate its learning, marketing and talent businesses in China. It is changing its approach in China to help companies there recruit and train foreign workers.
Despite the changed strategy, the company intends to hire over 250 new employees starting next week, mainly in operations, new business and account management.
According to parent company Microsoft’s earnings report, LinkedIn’s revenue grew 8% year over year to $3.7 billion in the third quarter of 2023.