SAN FRANCISCO — LinkedIn, the social media network owned by Microsoft that focuses on business professionals, said on Monday (May 9) it would cut 716 jobs as demand wavers, while also shutting down its China-focused job application.
LinkedIn, which has 20,000 employees, has grown revenue each quarter during the last year, but it joins other major technology companies including its parent in laying off workers amid a weakening global economic outlook.
In a letter to employees, LinkedIn CEO Ryan Roslansky said the move to cut roles in its sales, operations and support teams was aimed at streamlining the company's operations and would remove layers to help make quicker decisions. Mr Roslansky also said in the letter that the changes would result in creating 250 new jobs. The spokesperson said that employees affected by the cuts would be eligible to apply for those roles.
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