The company continues to eliminate 716 jobs, citing reduced demand. LinkedInwhich works like social media professionals. In an address to employees, the company’s management announced that it intends to close its special website. inCareergeared towards professionals China. About 3.5% of the company’s roughly 19,000 employees will be affected by the move, according to CNBC. LinkedIn recorded revenue growth in all quarters of last year. However, it also appears to be following in the footsteps of many other big companies in its sector. technologies and digital services, including parenting, Microsoftannouncing layoffs amid worsening prospects global economy. It is noted that over the past six months, more than 270 thousand jobs in the technology sector have been eliminated globally, according to the specialized website Layoffs.fyi.

More than 270,000 high-tech jobs have been lost worldwide in the past six months.

LinkedIn generates revenue from ads as well as subscription fees. In a letter to employees, CEO Ryan Roslansky said the decision to cut positions in sales, operations and support is intended to make the production mechanism more rational and eliminate intermediate stages in decision making. The changes to the company, including the use of outside suppliers, will eventually create 250 jobs, he said, which could be filled by some workers whose positions are being cut.

LinkedIn also announced that it will be phasing out its Chinese InCareer app ending August 9, citing “tough competition” and a “macroeconomic climate.” A wave of layoffs is recorded in most high-tech companies. In particular, 27,000 Amazon, 21,000 on Meta (Facebook, Instagram), 12,000 on Alphabet (Google, YouTube) and 10,000 on LinkedIn parent company Microsoft. Even before LinkedIn’s announcement in May, 5,000 tech jobs had been cut, according to Layoffs.fyi.