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HomeDigit NewsLinkedIn will lay off 700 employees, shut down its Chinese app

LinkedIn will lay off 700 employees, shut down its Chinese app

Image Credit source: Symbolic picture

Ever since the beginning of 2023, every day some big tech company is announcing layoffs. Let us tell you that LinkedIn, a professional network owned by Microsoft Corporation, has also joined the retrenchment race. The company has informed that 716 employees will be laid off soon. Not only this, the company is also going to shut down its Chinese job application app.

First Microsoft and now LinkedIn have made preparations to show the employees the way out of the company after seeing the global economic crisis. Let us tell you that LinkedIn has 20,000 employees and during the last year i.e. 2022, the company’s revenue had increased in every quarter, so the company’s decision to lay off employees is surprising.

Lakhs of people got jobs in 6 months

For the information of the people, let us tell you that according to Layoffs.fyi, which monitors layoffs, in the last six months, more than 2 lakh 70 thousand employees have lost their jobs globally.

In which department the job is going to go

There are two ways of earning LinkedIn, one through advertising sales and the other through subscription. In a letter to employees, LinkedIn CEO Ryan Roslansky said that people working in the operations, sales and support teams will be laid off.

LinkedIn will shut down its app

Citing the challenging environment, LinkedIn said that the company is also going to shut down its job app running in China. The company will shut down its InCareers app by August 9.

Retrenchment on one side and new jobs on the other side

Ryan Roslansky also said that the company will create 250 new jobs as a result of these changes. A LinkedIn spokesperson has also informed that employees affected by the layoffs will be eligible to apply for these job roles. .

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