BUSINESS
LinkedIn, a social media platform geared towards business professionals, announced on Monday that it will be eliminating 716 positions.
LinkedIn, a business-focused social media platform owned by Microsoft Corp., announced on Monday that it would be eliminating more positions from different departments.
As Reuters reported, 716 positions in its sales, operations, and support departments as part of broader reforms that would also see the phasing out of its local jobs app in China.
Although LinkedIn, which has 20,000 employees, has seen quarterly revenue growth over the past year, it has joined other large technology businesses, including its parent, in cutting staff due to a declining outlook for the global economy.
According to Layoffs.fyi, which has been monitoring the effects, more than 270,000 tech jobs have been eliminated globally in the last six months.
(Also Read: Meet Rohit Negi, IITian-turned-YouTuber who is farmer's son bagged salary package of Rs 2 crore at Uber)
In a letter to staff members, LinkedIn CEO Ryan Roslansky explained that the company's processes will be streamlined by eliminating layers in the sales, operations, and support teams. This would enable quicker decision-making.
"With the market and customer demand fluctuating more, and to serve emerging and growth markets more effectively, we are expanding the use of vendors," CEO Ryan Roslansky wrote.
Additionally, according to Roslansky's letter, the modifications will lead to the creation of 250 new jobs. Employees who were impacted by the reduction would be entitled to apply for such positions, according to a LinkedIn representative.
DNA TV Show: Bahraich murder accused shot in police encounter near Nepal border; 5 held
Good news for Narayana Murthy, Infosys net profit rises to Rs 6,506 crore
Tamannaah Bhatia questioned by ED in Guwahati in money laundering case, details inside
Hamas leader Yahya Sinwar killed in Gaza, Israel PM Netanyahu confirms
UGC NET June 2024 Result DECLARED: NTA announces UGC NET 2024 June exam result online, check here
Did IDF eliminate Yahya Sinwar, or has Martyr been born in Gaza?
Hamas chief Yahya Sinwar among 3 killed by Israel? Israel Defense Forces updates
Kangana Ranaut's Emergency finally cleared by CBFC, new release date...
Here's the film after which Shah Rukh Khan started drinking, his co-stars were Aishwarya Rai and...
Akash Ambani, Shloka Mehta live on 27th floor of Rs 15000 crore Antilia, here's why
Young entrepreneur’s Rahul Sachdeva journey to make foreign education accessible
Is Rajinikanth's Poes Garden home flooded amid Chennai rains? Here's the truth behind viral video
'My family is broken but..': Zeeshan Siddiqui's first reaction to father Baba Siddiqui's death
DNA Auto Award 2024 Has Spoken: Jawa 42 FJ, bringing Neo-classic revolution in Motor Industry
Apple iPad 10th gen vs iPad 9th gen: Should you buy or wait for iPad 11?
Nita Ambani's hairstylist explains why haircuts can't fix damage and offers solutions
Bigg Boss Kannada's Kiccha Sudeepa retires from hosting duties, says 'let's make this season...'
Air India flight from Mumbai transmits emergency signal over London, claims Flight tracker
Elon Musk applauds India's decision: Spectrum allocation favors open access and innovation
BIG UPDATE on IPL auction, Saudi Arabia to host event, will take place on...
Two Bahraich violence accused shot by police in encounter while fleeing to Nepal; 5 held
'I won’t be returning': South African legend bids farewell to Sunrisers Hyderabad ahead of IPL 2025
Indian stargazers spot rare, ancient comet after 80,000 years, see breathtaking pics
'46 all-out new 36 all-out?': Cricket Australia trolls India after batting collapse vs New Zealand
Karwa Chauth 2024: Know the date, timings, history and significance
Mukesh Ambani's Jio superhit 5G plan, offers 90 days validity with unlimited data
IND vs NZ: Virat Kohli equals THIS unwanted record with 9-ball duck against New Zealand in 1st Test
Proba-3: ISRO to launch ESA Solar Eclipse Mission with precision satellites
'Law not blind': Supreme court makes 2 BIG CHANGES, unveils new justice lady and replaced…
J-K: Several CRPF Jawans injured in road accident in Budgam, probe underway
Who is Justice Sanjiv Khanna named CJI Chandrachud's successor, could become next Chief Justice?
Mukesh Ambani's BIG move: Reliance investors to get this DIWALI bonanza, know details here
'Ravan ko kisne maara?' This kid's hilarious answer will leave your in splits, WATCH viral video
Nayab Singh Saini takes oath as Haryana CM in presence of PM Modi, BJP brass
IND vs NZ: India all out for 46 runs, lowest test score at home
Hunter's Moon 2024: NASA drops first glimpse of brightest Supermoon, shares its significance
Meet man, IIT graduate who worked for Indian Railways, then went on to join Elon Musk's...
IND vs NZ: Devon Conway takes one hand blunder, gets Sarfaraz Khan on duck, watch video here
IND vs NZ test: Virat Kohli, Rohit Sharma fail to impress, India 3 wickets down in first 10 overs
Nita Ambani, Isha Ambani have 'great skin and features' reveals celebrity makeup artist
CJI Chandrachud decides on his successor, nominates…
Delhi Police initiates probe in 7 hoax threats to flights, registers FIR
Meet Nikita Porwal, Aishwarya Rai's fan, Miss India 2024 winner who works as...
Phone call paved way to long-lasting friendship between Ratan Tata, Amrish Puri, know how
IND vs NZ TEST TOSS UPDATE: India wins toss, to bat, check playing 11
MEA makes big statement, holds PM Trudeau 'solely responsible' for damage to India-Canada relations
'Many are mistreated...': When Ratan Tata opened up about his personal journey behind cancer care
Noida DM mired in controversy, being investigated for alleged scam worth Rs…
Bigg Boss 18: Netizens call Vivian Dsena 'rude, egoistic', Chahat Pandey 'sensible' after she...
'Crucial that we act together...': Congress breaks silence on India-Canada diplomatic row
When Radhika Merchant borrowed sister-in-law Isha Ambani's earrings, shared major family goals