Sunday, 2024 April 14

LinkedIn shuts down InCareer in China

LinkedIn, the popular professional networking platform owned by Microsoft, has announced plans for the closure of its InCareer app in China. The decision comes as the company implements job cuts worldwide and faces challenges in a fiercely competitive market.

In a letter penned by CEO Ryan Roslansky that was published on Monday, LinkedIn revealed that it is reducing its global workforce by 716 employees. Roslansky cited intense competition and slower revenue growth as the primary reasons behind the company’s restructuring. This includes the dismissal of the product and engineering teams in China, as well as downsizing the corporate, sales, and marketing departments.

The InCareer app will be shut down on August 9, 2023. The app had been launched in late 2021 as a pared-back version of the original in order to comply with China’s stringent censorship and data protection regulations. Its primary focus was on job-hunting without any of the social components. Since its launch, however, it has struggled to gain traction compared to its domestic competitors. Market research firm Analysys reported that InCareer had 959,600 monthly active users in March, significantly lower than the user bases of domestic platforms such as 51job (18.5 million users), Boss Zhipin (17.3 million users), and Liepin (6.7 million users).

However, LinkedIn plans on continuing its presence in the country. “LinkedIn will continue to have a presence in China and will focus on assisting companies operating in China to access economic opportunity through our Talent and Marketing solutions, and later this year through our Learning Solutions,” a statement on the website announced.

36Kr Global Writers
36Kr Global Writers
The tech ecosystem is roaring. Unicorns valued at billions of dollars have emerged worldwide, while venture capital and strategic investors are constantly on the lookout for the next big thing. 36Kr Global is committed to establishing ties between global stakeholders and providing the most vital information about China’s tech scene and capital markets.
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