LinkedIn cuts over 700 jobs, phases out China app as demand wavers
LinkedIn, the social media network owned by Microsoft Corp that focuses on business professionals, said on Monday it would cut 716 jobs as demand wavers, while also shutting down its China-focused job application.
LinkedIn makes money through ad sales and also by charging for subscriptions to recruiting and sales professionals who use the network to find prospects. A LinkedIn spokesperson said the vendors were"external partners" who would take on new and existing work. "Despite our initial progress, InCareer faced fierce competition and a challenging macroeconomic climate, which ultimately led us to the decision of discontinuing the service," the company told users of the website.
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