Of this, 120 Irish jobs were lost, with the company adding to the running list of tech firms that have reduced their workforce in response to falling demand. Microsoft, which bought LinkedIn for around $26bn (€23.68bn) in 2016, has announced some 10,000 job cuts in recent months. LinkedIn will retain a presence in China to help companies operating there to hire and train employees outside the country, the company said. In relation to the shutdown of InCareer, the company said it faced “fierce competition and a challenging macroeconomic climate”, which ultimately led to the decision to discontinue the service. Roslansky also said in the letter that the changes would result in creating 250 new jobs which the people affected by the cuts will be able to apply for. "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 a letter to employees, LinkedIn CEO Ryan Roslansky said the move to cut roles in its sales, operations and support teams was aimed at streamlining the company's operations and would remove layers to help make quicker decisions. Last year, pre-tax profits at the main Irish arm of the social media platform increased by 42% to $176.35m (€176.55m).Ĭiting a "challenging environment," the China app, InCareers will be phased out by the 9th of August following a decision made in 2021 to mostly withdraw from the country. The company has grown revenue each quarter during the last year, but it joins other major technology companies, including its parent company, in laying off workers amid a weakening global economic outlook.
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