LinkedIn, the social networking site working all around the world to connect job seekers, business helpers, freelancers, students and many other people in market. The network owned by Microsoft Corp decided to cut off 716 jobs and also shutting down its China-based job applications.
LinkedIn has more than 20,000 employees having grown revenue each quarter during the year, but as soon the network joined another parent company, the weakening global economic outlook was witnessed.
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More than 270,000 technology jobs have been cut off during the last 6 months which is also the reason of fall out of this giant Networking site.
LinkedIn Money making & Subscriptions
LinkedIn makes money through ad sales and by charging the subscriptions to recruiting and sales professionals who use the network. LinkedIn CEO Ryan Roslansky said that, sales, operations and support teams are important parts of network.
“With the market and customer demand fluctuating more, and to serve emerging and growth markets more effetively, we are expanding the use of vendors”, he added.
A LinkedIn spokesperson also said that, vendors are external partners, they would help to take on new and existing work more effeciently.
These changes will help in creating more jobs, and employees affected by the cuts would be eligible to apply for more good roles. LinkedIn also said that, it is eliminating the jobs offering from China as it is a challenging environment to cope up with.
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The company spokesperson said that, “LinkedIn will retain a presence in China to help the companies operating there and train employees outside the country. Earlier in start of May, 5000 technology jobs were also removed from the network.