(The Hill) — LinkedIn announced on Monday that it’s cutting more than 700 jobs as it makes changes to its global business organization and its China strategy.
“As we guide LinkedIn through this rapidly changing landscape, we are making changes to our Global Business Organization (GBO) and our China strategy that will result in a reduction of roles for 716 employees,” said LinkedIn CEO Ryan Roslansky in an email to employees.
The company has roughly 20,000 workers.
The CEO said the job networking site is “making meaningful progress creating economic opportunities” for members and customers and “experiencing record engagement” on the LinkedIn platform, but also said “shifts in customer behavior and slower revenue growth” are spurring on the changes.
Plans to reshuffle the GBO includes the 716 job cuts, but also the creation of more than 250 new roles starting on May 15, Roslansky said. The changes also include phasing out InCareer, LinkedIn’s local jobs app in China, by August of this year.
The moves come just after the company celebrated its 20th year, Roslansky said, and as many are talking about the potential impact of emerging artificial intelligence tech on the job market.
“As we turn 20, we are entering a new decade for LinkedIn, one that will perhaps be the most consequential we’ve experienced to date, he said. “AI is just beginning to accelerate changes in the global economy and labor market, and LinkedIn is more essential than ever to help our members and customers navigate the changes to access economic opportunity.”
Employees directly affected by the job cuts were reportedly notified about meeting with a team leader or GTO representative.