Despite revenue growth, LinkedIn set to cut 716 jobs, closes down China-focused job application

Microsoft owned LinkedIn is set to cut 716 jobs which is 3.5% of the total employees. LinkedIn employs around 20,000 employees. The tech company reportedly, will close down its China-focused job application too. This comes depsite LinkedIn having reported revenue growth every quarter for the last year. Other factors also include a weakening global economic outlook and a drop in demand.

LinkedIn's CEO Ryan Roslansky wrote a letter to his employees, in which he mentioned that the job cuts were to streamline the company's operations which would remove layers to make quick decisions.

As per Business Today, although the China-focused job application will be closed, LinkedIn will still have a presence in China to assist companies operating there to hire and train employees outside the country.

LinkedIn has now joined a line of tech companies that had laid off about 2,70,000 people in the past 6 months. Microsoft that bought LinkedIn in 2016 for $26 billion has announced around 10,000 job cuts in recent months.