LinkedIn celebrated its first 20 years of existence just last week. But the CEO confirmed the layoffs on a corporate website
By iProfessional
10/05/2023 – 07,47hs
A few days after celebrating its 20th anniversary, the social network for professionals, LinkedIn, confirmed this week dismissal of 716 employees around the world, as well as the closing your application for job search notices in China.
The decisions were first communicated in a message from the company’s CEO, Ryan Roslansky, to employees. The letter was later released on a LinkedIn corporate blog.
“In our job of steering the company’s course in a rapidly changing landscape,” Roslansky wrote, “we have made changes in our Global Business Organization and in our strategy in China that implies the elimination of 716 jobs“.
The news came the week after LinkedIn celebrated its first 20 years, and many of its 20,000 employees posted on the social network about how much they had learned and grown in their time at the Microsoft-owned company, which also in the first quarter had confirmed 10,000 layoffs worldwide.
Layoffs on LinkedIn
LinkedIn’s significant downsizing can be related to the episodes that became popularly known as “Techno Winter,” which saw Silicon Valley’s biggest companies, from Google to Meta to Amazon, make the largest mass layoffs in their history.
LinkedIn today has 875 million membersbut at the same time, according to Roslansky’s note, the income is declining and they see advertiser behavior that is constantly changing.
LinkedIn laid off 716 employees worldwide
“Although we are making significant progress in creating economic opportunities for our members and users, and the platform enjoys record levels of interaction,” Roslansky notes in the part of his letter explaining the reasons for the measures, “we are also experiencing changes in user behavior and slower revenue growth.
This situation requires, according to Roslansky’s message, that in the face of 2024 and onwards, the company is reorganized in order to achieve greater agility and growth. To this end, it launched initiatives to achieve a more integrated, agile and growth-oriented work model, which entails, among other measures, the disappearance of certain positions and departments, the reinforcement of sales teams in emerging markets and the simplification of the Decision-making process.
Shutdown in China
Regarding the Chinese market, Linkedin decided close your local employment app, InCareer, which will stop operating on August 9, as well as the disappearance of the company’s Product and Engineering teams in that Asian market.
LinkedIn will continue to operate in China through its Talent, Marketing and Training teams to help companies that want to hire professionals in the country.
Rosansky noted that the third decade of his career that now begins for LinkedIn “will be perhaps the most defining that we have experienced so far.”
“Looking ahead to 2024, we expect the macroeconomic outlook to continue to pose challenges,” he added in his letter. “We are adapting as we have in the past year, and we will continue to operate with the ambition to keep our vision alive and the pragmatism it takes to run the business well. We will continue to monitor our spending while investing in areas of strategic growth.”
