LinkedIn has announced that it plans to cut 716 jobs and phase out its activities in China, in response to slowing revenue growth and changing customer behaviour.
The company's chief executive Ryan Roslansky delivered the news in a letter to staff published on Monday. He explained the layoffs as part of a plan aimed at responding to economic conditions and making the business more agile.
“In an evolving market, we must continuously have the conviction to adapt our strategy in order to make our vision a reality,” Roslansky said.
He added that the changes would actually result in the creation of 250 new jobs, for which LinkedIn employees affected by the cuts in the company's sales, operations and support teams would be eligible to apply. At the moment, LinkedIn has around 20,000 employees globally.
The changes are also expected to include the integration of some teams, as well as reducing management roles and broadening responsibilities “to make...