LinkedIn, which had previously shut down its social networking features in China two years ago, announced on May 9th that it will be adjusting its business strategy in the country. After careful consideration, the company has decided to discontinue InCareer, its local job application in China, effective August 9th. Additionally, LinkedIn’s Chinese team will also undergo a reduction in size.
LinkedIn announced that InCareer has been facing intense market competition and challenges due to the macroeconomic environment. As a result, they have decided to discontinue their services. Mohak Shroff, Senior Vice President at LinkedIn, and Lu Jian, President of LinkedIn China, will convene an all hands meeting with their China-based colleagues to discuss the implications of these changes, including the discontinuation of product and engineering teams in China and the downsizing of corporate, sales, and marketing functions.
LinkedIn, a social platform founded in 2003, entered China in 2014. During its years of operation in China, LinkedIn benefited from the development of China’s new economy industry and corresponding employment market. As of May 2020, LinkedIn had over 690 million users worldwide with more than 50 million users in China. However, on October 14th, 2021, LinkedIn announced that it would terminate user-generated content publishing and interactive functions in China, which effectively stops the core function of this pioneer career social network.
LinkedIn has announced that its business strategy in China will now concentrate solely on assisting Chinese companies with talent acquisition abroad, as well as supporting them in building international brands and expanding into overseas markets. As a result of this shift, the company will no longer offer services to individual users within China.
LinkedIn has also become the latest tech firm to axe jobs, closing 716 roles. The move was aimed at streamlining the company’s operations.