NEW DELHI: As part of reforms to its Global Business Organisation (GBO) and the closure of its InCareer app in China, Microsoft-owned LinkedIn has laid off 716 workers.
The company's Echief Executive Offer Ryan Roslansky said through an email to employees that the move was aimed at streamlining the company's operations. He wrote late on Monday, "We are making adjustments to our Global Business Organisation (GBO) and our China strategy that will result in a reduction of roles for 716 workers as we navigate LinkedIn through this fast-shifting market.
"If your role is directly impacted by this decision, you will receive a calendar invitation within the next hour for a meeting with a leader from your team and a representative from our GTO," he continued.
While the platform is making significant strides towards providing its members and consumers with economic options and is seeing record levels of engagement, he acknowledged that "we're also seeing shifts in customer behaviour and slower revenue growth."
The CEO stated, "In a changing market, we continually need to have the conviction to adjust our strategy in order to realise our vision.
As more than 930 million people use LinkedIn to connect, study, sell, and find jobs internationally, the professional social network had record engagement in the March quarter.
The tech giant's March quarter saw an 8% growth in LinkedIn revenue. Microsoft purchased LinkedIn for more than $26 billion in 2016.
Additionally, the corporation was disbanding its Chinese engineering and product teams and cutting back on its corporate, sales, and marketing operations.
Roslansky said, the company's China strategy would concentrate on helping Chinese-owned businesses hire, promote, and educate employees abroad.
"As we make plans for FY24, we anticipate continued difficulty in the macro climate. As we have done this year, we are adapting. We will keep operating with the pragmatism necessary to successfully run the business and the ambition necessary to realise our mission.
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