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Aytak Onal | Anadolu Agency | Getty Images
LinkedIn, the popular business social networking platform that he owns Microsoftwill shut down China’s job app InCareer, and lay off 716 employees worldwide, the company said in a statement. message for employees.
The move, announced Monday, will affect about 3.5% of LinkedIn’s 19,000 employees worldwide. linkedin Launched InCareer in December 2021 after the end of the LinkedIn domestic product in China.
“Although InCareer experienced some success last year thanks to our strong China-based team, it also faced fierce competition and a challenging macroeconomic climate,” LinkedIn CEO Ryan Roslansky said in the letter.
Shares of parent company Microsoft were largely flat in pre-market trading on Tuesday. In the third quarter of 2023, LinkedIn revenue grew 8% year over year to $3.7 billion, according to Microsoft earnings. a report and the SEC quarterly filing.
According to LinkedIn, InCareer will delete all user data by August 9th helps page.
LinkedIn will continue to operate its Learning, Marketing and Talent business in China. But Roslansky noted that the company will continue to “manage expenses” in the coming year, pointing to the possibility of further cost cuts or layoffs.
China is a fertile market for US-based tech companies, which often team up with local rivals to grab market share. The total number of InCareer and LinkedIn users in China has reached more than 57 million, according to InCareer. page. By comparison, domestic competitor Zhaopin has claimed more than 320 million professional and corporate users ranging from Baidu for Chinese government agencies.
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