LinkedIn will cut 716 jobs as demand waves and will also end China-focused job applications, the company, which focuses on business professionals, said Monday.
The Microsoft Corp.-owned social media network with 20,000 employees has grown revenue every quarter over the past year, but it joins other big tech companies, including its parent, in laying off workers amid a weak global economic outlook.
According to Layoffs.fyi, in the past six months, more than 270,000 technical jobs have been laid off worldwide, tracking fallouts.
LinkedIn makes money through ad sales and charges subscriptions to recruiting and sales professionals who use the network to find prospects.
In a letter to employees, LinkedIn CEO Ryan Roslansky said the move to reduce the roles of its sales, operations, and support teams was aimed at streamlining the company’s operations and removing layers to help make faster decisions.
Roslansky wrote, “With the market and customer demand fluctuating more, and to serve emerging and growth markets more effectively, we are expanding the use of vendors,”.
