The world’s largest social media app for professionals, LinkedIn, has announced that 716 positions together with its China jobs app will be shut down. Due to the changing consumers behavior and the present economic realities, LinkedIn mentioned that the approach is to make the business more robust to serve emerging and growth markets more effectively.
The company is expanding the use of vendors and reducing management positions and broadcasting responsibilities. LinkedIn is owned by Microsoft (MSFT) and currently has about 21000 employees worldwide.
Although LinkedIn announced that it will maintain its presence in China, the Job app closure is alleged to be due to the challenging operating environments. Most foreign companies believe that China’s policy requires more internet regulation and promotes the use of localized versions of social media apps.
ASVEK Science & Tech 