Employment platform LinkedIn has announced it is slashing hundreds of jobs and phasing out its app in China as part of a “streamlining” process amid declining revenue.
Ruiqi Chen, editor at LinkedIn News, announced the move on May 8, noting that the platform plans to reduce roles across its sales, operations, and support teams.
LinkedIn will also open 250 new roles to invest in specific segments, new business, and account management, Chen said.
Founded in 2002, LinkedIn has offices in 36 cities globally and about 20,000 employees, according to its official website.
CEO Ryan Roslansky also announced the decision to slash jobs at the company in an email to all LinkedIn employees, citing an “evolving market” and a shift in customer behavior along with slower revenue growth as reasons for the cuts….