Microsoft-owned LinkedIn, the employment-focussed social-media network, has revealed its plans to axe about 716 roles. Additionally, it has decided to withdraw its local jobs app in China, gradually, in stages. Called InCareer, this local job app will be completely withdrawn over the next three months.
Interestingly, the professional social-media networking platform, which has a workforce strength of about 20,000, has witnessed revenue growth each quarter over the last year. However, amidst the uncertain economic conditions and stiff competition, globally, LinkedIn too has decided to reduce its workforce, just as so many other tech majors.
This move is part of the changes being made by LinkedIn to its global business organisation or GBO and its China strategy, as per an email sent to the employees by Ryan Roslansky, CEO, LinkedIn.
These job cuts in the company’s sales, operations and support teams is expected to streamline LinkedIn’s operations and also improve and speed up decision-making.
Roslansky’s message also revealed that about 250 new roles will be created, and that those laid off are free to apply for these roles.
Some presence in China will remain, so that the hiring and training needs of companies outside China can be met and facilitated.
In the US, the laid-off employees will receive severance pay and their health coverage will be continued. They will also receive outplacement support.
Outside the US, however, the benefits offered to the laid-off employees will be in alignment with the labour laws and practices of the respective countries.
Value our content... contribute towards our growth. Even a small contribution a month would be of great help for us.
Since eight years, we have been serving the industry through daily news and stories. Our content is free for all and we plan to keep it that way.
Support HRKatha. Pay Here (All it takes is a minute)
