In the west, LinkedIn has had something of a resurgence over the last year.Ĭhanging economic conditions, over-hiring, and falls in the stock market drops led to mass layoffs across the tech and media industries. journalists and activists working in China said their profiles had been blocked because of 'prohibited content', reports the New York Times. However, LinkedIn has been marginalized in recent years as innovative local apps have surged in popularity. The US firm once achieved a rapid rise in China, benefiting from a culture of connections, or 'guanxi', in which one's contacts and professional network are essential assets. Technology companies have resorted to recurring waves of layoffs over the past year, in new phenomenon to hit the industry that reverses more than a decade of mostly unbridled growth.Ī representative from the company also said that LinkedIn would 'continue to have a presence' in the country by focusing on 'assisting companies operating in China to hire, market, and train abroad'. LinkedIn blamed 'shifts in customer behavior and slower revenue growth' for the cuts. LinkedIn previously laid off almost 1,000 employees in July 2020, or approximately six percent of its global workforce.Īt the time, LinkedIn's business was hit by the slowdown in hiring as companies laid off staff or sharply curtailed recruitment. 'Despite our initial progress, InCareer faced fierce competition and a challenging macroeconomic climate, which ultimately led us to the decision of discontinuing the service,' LinkedIn said.Īn email from CEO Ryan Roslansky published online added that closing the China service would result in 'a reduction of roles for 716 employees' noting 'shifts in customer behavior and slower revenue growth.'Īs part of its strategic shake-up, LinkedIn said it will be 'opening up more than 250 new roles' in parts of its operations team as well as new business and account management departments starting on May 15. 'After careful consideration, we've made the decision to discontinue InCareer effective August 9, 2023,' the platform said in a statement on Tuesday. An email from CEO Ryan Roslansky, pictured, revealed how closing the China service would result in 'a reduction of roles for 716 employees' blaming 'shifts in customer behavior and slower revenue growth.'
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