Tag: LinkedIn Corporation

LinkedIn Will Cut Over 700 Jobs Worldwide and Shut Its China App

Media Library

LinkedIn, the networking platform used by millions of employees and companies, said on Monday it will pare down its operations in China, capping a multiyear pullback that exemplified the challenges of running a foreign business in China. The company, owned by Microsoft, said it will lay off 716 employees worldwide, including teams dedicated to engineering and marketing in China, because of slumping demand. It did not say how many of those layoffs will be in China. LinkedIn will also shut its China job posting app, a bare-bones version of its…

LinkedIn to End Service in China, Citing ‘Challenging’ Environment

Chin@Strategy

Since Microsoft bought LinkedIn for $26.2 billion in 2016, revenue from the business has tripled. Mr. Nadella told investors in July that LinkedIn’s revenue had surpassed $10 billion in annual sales, up 27 percent from the previous year. LinkedIn declined to comment beyond its announcement. While Microsoft has tried to build a market in China for more than a decade, it has had only modest success. Last year, Brad Smith, Microsoft’s president, said the country accounted for less than 2 percent of its revenue. Microsoft Windows and Office are common…