MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.Ĭopyright (c) 2023 Dow Jones & Company, Inc. This content was created by MarketWatch, which is operated by Dow Jones & Co. Going forward, LinkedIn will focus on "assisting companies operating in China to hire, market and train abroad." While we remain focused on our goal of creating economic opportunity for our members in China, we're temporarily pausing new member sign-ups for LinkedIn China as we work to ensure. "Though InCareer experienced some success in the past year thanks to our strong China-based team, it also encountered fierce competition and a challenging macroeconomic climate," Roslansky said. LinkedIn, Microsoft’s social network for professional interactions, has temporarily paused signups for new members in China. See also: More than 190,000 tech-sector employees have lost their jobs since the start of 2023įurther, Roslansky discussed a change to the China strategy, which will involve "phasing out InCareer," a jobs app for the China market, by mid-August. He noted that "the Business Productivity team will be sunsetted," though some "components" will move into other teams. LinkedIn said it intends to reorganize by cutting back on management roles and "ensuring we have the right roles for the work required." That means the company will reduce some roles but open up 250 new positions starting May 15. "In an evolving market, we must continuously have the conviction to adapt our strategy in order to make our vision a reality," he continued. LinkedIn is "making meaningful progress creating economic opportunities for our members and customers and experiencing record engagement on the platform," its chief executive Ryan Roslansky said in the note, but the business is "also seeing shifts in customer behavior and slower revenue growth." The Microsoft Corp.-owned (MSFT) business announced the planned 716 job cuts Monday in a note to employees that was also posted to the company's corporate site. social networking companies allowed in the country as it has agreed to restrict some content to adhere to state censorship rules. LinkedIn plans to lay off more than 700 workers as it deals with slowing revenue growth and rethinks its strategy in China by shutting down a jobs app there. LinkedIn, which entered China in 2014, is one of the few U.S. InCareer app in China 'encountered fierce competition and a challenging macroeconomic climate'
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