A week after marking its 20th anniversary, LinkedIn has announced changes in its organization that will result in the reduction of roles of 716 employees.
According to a newsletter published by the company, CEO Ryan Roslansky had sent an email to all LinkedIn employees announcing the changes and its impact on different teams and individuals within LinkedIn.
He mentioned that the changes are adaptive measures necessary as the market evolves while confirming that the company has noticed a “shift in customer behavior” and a “slower revenue growth.”
He said, “…while we’re making meaningful progress creating economic opportunities for our members and customers and experiencing record engagement on the platform, we’re also seeing shifts in customer behavior and slower revenue growth. In an evolving market, we must continuously have the conviction to adapt our strategy in order to make our vision a reality.”
Highlighting the processes involved in implementing these changes, Roslansky said the business productivity team will be halted and integrated in parts into other related teams, management roles will be reduced to remove layers and broaden responsibilities for quicker decision making.
However, as roles are being reduced, new roles will be created as well, to ensure that the company has the right roles for the required work.
Over 250 new roles will open up in specific segments of operation, new business and account management teams from the 15th of May. Roslansky mentioned that the China business also gets a major impact from these changes as some trams will be discontinued and some downsized.
The China based Local jobs app, InCareer will be shut down by August 19, having encountered ” fierce competition” and a “challenging macroeconomic climate.”
“We’ll focus our China strategy on assisting companies operating in China to hire, market, and train abroad. This will involve maintaining our Talent, Marketing, and Learning businesses, while phasing out InCareer, our local jobs app in China, by August 9, 2023.”
InCareer was launched in December 2021 and was meant to help professionals within China to network and to find and apply for jobs. Its major competition, Maimai, is a professional networking site with over 120 million users.
Roslansky has assured the impacted employees in and outside the US of the company’s full support and benefits as deserved and as supported by local labour laws and practices in locations outside the US.
The Microsoft owned company has dedicated the next week to supporting the impacted fraction of its 20,000 employees.
