LinkedIn is cutting 716 jobs and will begin phasing out InCareer, its local jobs app in China, by August 9, 2023.
“Though InCareer experienced some success in the past year thanks to our strong China-based team, it also encountered fierce competition and a challenging macroeconomic climate,” said LinkedIn CEO Ryan Roslanky in a letter to staff.
“While these decisions are essential for our business, they also mean that some of our teammates will be leaving LinkedIn for new opportunities. We are committed to providing our full support to those impacted.”
LinkedIn, which is owned by Microsoft, plans to open up more than 250 new roles in specific segments of its operations, new business and account management teams starting on May 15.
The company be refocusing its Global Business Organization for the next phase of growth.
Roslanky said as the company turn 20 it is entering a new decade, one that will perhaps be the most “consequential we’ve experienced to date.
“AI is just beginning to accelerate changes in the global economy and labor market, and LinkedIn is more essential than ever to help our members and customers navigate the changes to access economic opportunity.”
He added: “Our focus over the next week is on supporting our impacted colleagues. We are saying goodbye to exceptional individuals, and any company will be fortunate to have them.”