LinkedIn, which has 20,000 employees, has grown revenue each quarter during the last year, but it joins other major technology companies including its parent in laying off workers amid a weakening global economic outlook.
LinkedIn makes money through ad sales and also by charging for subscriptions to recruiting and sales professionals who use the network to find prospects. "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.
LinkedIn also said it was eliminating the slimmed down jobs app that it offers in China after it decided in 2021 to mostly withdraw from the country, citing a "challenging" environment. The remaining China app, called InCareers, will be phased out by Aug. 9, LinkedIn said.