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LinkedIn to lay off 716 employees

LinkedIn Chief Executive Officer Ryan Roslansky, says it would cut 716 jobs as demand wavers, and will also be shutting down its China-focused job application.

In a letter to LinkedIn employees, Ryan Roslansky said that the move was aimed at streamlining the company’s operations.

Roslansky wrote, “As we guide LinkedIn through this rapidly changing landscape, we are making changes to our Global Business Organization (GBO) and our China strategy that will result in a reduction of roles for 716 employees.”

LinkedIn has 20,000 employees currently. The job cut will impact employees in the sales, operations and support teams. “With the market and customer demand fluctuating more, and to serve emerging and growth markets more effectively, we are expanding the use of vendors,” Roslansky wrote.

In the letter, the CEO maintained that the changes would also create 250 new jobs at LinkedIn and the employees affected by the layoff would be eligible to apply for these newly created job roles.

The social media platform makes money through ad sales and also through subscription charges to recruiting and sales professionals who use the network to find prospects. 

Writing by Julian Osamoto