In a strategic move, the LinkedIn, which belongs to Microsoft, decided to carry out a restructuring of its Global Business Organization (GBO) and to close its application InCareer in China. To achieve this goal, 716 employees were laid off.
The company's CEO, Ryan Roslansky, in a statement to employees, explained that this measure was aimed at streamline company operations and ensure that LinkedIn continues to guide its users through this quick change.
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Changing strategies to achieve better results
LinkedIn's CEO admitted that although the platform is bringing economic opportunities to its members and customers, some changes in customer behavior and slower revenue growth were observed.
But in an ever-evolving market, you need to adapt your strategy to make your vision a reality.
That's why LinkedIn saw record engagement in the March quarter with over 930 million of members worldwide connecting, learning, selling and getting hired on the social network professional.
Revenue also increased 8% in that same quarter. Remember that Microsoft acquired LinkedIn for more than $26 billion in 2016.
In addition, the company is discontinuing product and engineering teams in China and downsizing corporate, sales and marketing functions.
