LinkedIn, the social media network on Monday cuts off 716 jobs and shuts down the China job application as demand wavers, as Reuters reported.
LinkedIn owned by Microsoft Corp. has now joined major technology companies Meta, Twitter, and Amazon in laying off its employees. According to Layoffs.fyi, over 270,000 tech jobs have been lost internationally in the last six months.
As per Reuters reports, LinkedIn generates revenue from ad sales as well as subscription fees charged to recruitment and sales professionals who utilize the network to identify prospects.
Ryan Roslansky, the LinkedIn CEO, stated in a letter to workers that the move to reduce jobs in its sales, operations, and support teams was aimed at simplifying the company’s operations and removing layers to help make faster choices.
He also stated that the changes will result in the creation of 250 additional employment. Employees affected by the layoffs, according to the spokeswoman, will be able to apply for those positions.
“With the market and customer demand fluctuating more, and to serve emerging and growth markets more effectively, we are expanding the use of vendors,” Roslansky stated.
LinkedIn cuts 716 jobs:
Job placement company ‘Linked In’ starts laying off its own employees. The company will lay off 716 employees, the company has 20,000 employees, News24 tweeted.
नौकरी देनी वाली कंपनी 'Linked in' ने अपने ही कर्मचारियों की छंटनी शुरू की
◆ कंपनी 716 कर्मचारियों की करेगी छंटनी, कंपनी में 20,000 कर्मचारी हैं
लिंक्डइन | #Linkedin | Layoffs pic.twitter.com/ItrlLDbymb
— News24 (@news24tvchannel) May 9, 2023
ALSO READ: Google to layoff 10,000 under performing employees
