Professional networking platform LinkedIn says it's laying off more than 700 workers and shuttering its China jobs app, in the latest round of tech industry downsizing.
LinkedIn blamed “shifts in customer behavior and slower revenue growth” for the cuts, which it announced in a blogpost late Monday.
Technology companies have resorted to recurring waves of layoffs over the past year, in new phenomenon to hit the industry that reverses more than a decade of mostly unbridled growth.
LinkedIn, which is owned by Microsoft, indicated that the net number of job losses could be less than 500.
As part of its strategic shakeup, LinkedIn said it would be “opening up more than 250 new roles” in parts of its operations team as well as new business and account management teams starting on May 15.
LinkedIn said it will also shut down its local jobs app for China, InCareer, by August, citing “fierce competition and a challenging macroeconomic climate.”
InCareer was launched in 2021 as a jobs board that didn't include a social feed or or the ability to share posts or articles. It replaced the Chinese version of LinkedIn's website, which the company closed as Beijing cracked down on the internet sector.
President Donald Trump wants his “big, beautiful” bill of tax breaks and spending cuts on his desk to be singed into law by Independence Day. And he’s pushing the slow-rolling Senate to make it happen sooner rather than later. Trump met with Senate Majority Leader John Thune at the White House early this week and has been dialing senators for one-on-one chats, using both the carrot and stick to encourage them to act. But it’s still a long road ahead for the bill. Senators want to make changes to protect Medicaid and to make sure some tax breaks become permanent. Elon Musk called the whole bill a "disgusting abomination.”
