LinkedIn to Cut Over 700 Jobs Globally
Technology giant, LinkedIn, has announced that it is to cut 716 jobs in its Global Business Organization and phase out its local jobs app in China. The news was delivered to all LinkedIn employees today via an email from the company’s CEO.
Owned by Microsoft, the company employs over 19,000 staff across the globe with offices in a number of European cities including Madrid, Berlin and Amsterdam, and EMEA and LATAM headquarters in Dublin, where it employs approximately 2000 people.
The company is one of a number of technology behemoths that have announced job cuts over the last months, in the face of global economic challenges.
In the email to staff, LinkedIn CEO, Ryan Roslansky, outlined company plans to reorganize the company’s Global Business Organization (GBO) through the integration of teams and increased agility. Mr. 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. We are also removing layers, reducing management roles and broadening responsibilities to make decisions more quickly.’
As part of the reorganization of GBO, the CEO also referenced team alignment which the email describes as ‘both reducing roles, and it also includes opening up more than 250 new roles in specific segments of our operations, new business and account management teams starting on May 15.’
The email outlined a number of changes to the business in China, citing a renewed focus on its ‘China Strategy’ which will involve the phasing out of InCareer, LinkedIn’s local jobs app in China, by August 9, 2023. It said this decision was made due to ‘fierce competition and a challenging macroeconomic climate.’
The email said meetings were due to be set with ‘our China-based colleagues in the coming hours to discuss the implications of these changes, including the discontinuation of product and engineering teams in China and the downsizing of corporate, sales, and marketing functions.’
It said that the company will retain a presence in China to assist ‘companies operating in China to hire, market, and train abroad.’
Staff were informed that should their roles be impacted, they would be receiving further communication from the company’s Chief Operating Officer, Dan Shapero to explain how the changes will affect them.
Looking towards the future and the financial year 2024, Mr. Roslansky referenced the expected impact of AI on the global economy and labour market along with the expectation that the macro environment will remain a challenging one.