Due to severe competition and a hard financial context, LinkedIn will reduce 716 employees and stop its local employment app in China, according to a letter from CEO Ryan Roslanky.
Despite the loss of some roles, LinkedIn expects to add around 250 new employees in some areas of its operations, including new business and accounting management teams, on May 15.
Microsoft, LinekedIn’s parent company, announced plans in January to decrease its global staff by 10,000 positions, or around 5% of its total workforce.
LinkedIn’s local jobs application in China, InCareer, was released in December 2021, just months after the firm announced the shutdown of its main service in the nation. It was initially intended to help professionals in China with networking, job searches, and applications.
However, it faced stiff competition from the main professional networking site Maimai, which, according to its website, has over 120 million subscribers. Maimai provides benefits such as the option to share posts anonymously, making it a popular platform for people who want to express themselves or learn more about their employment.
LinkedIn has stated that the phase-out of InCareer will be completed by August 9. Instead, the company’s China approach will move to aiding enterprises operating within China with their worldwide hiring, marketing, and training needs.
As a result, LinkedIn will continue to operate its Talent, Marketing, and Learning operations in China.
Employees in the United States who are eligible for U.S. benefits will get severance money, continued health coverage, and assistance with career transition services. Employees outside the United States, meanwhile, will receive benefits in accordance with local labour laws and practises.