SOCIAL NETWORKING FIRM LinkedIn today announced that it will close down its last service available in China, citing “fierce competition and a challenging macroeconomic climate”.
In January, Microsoft announce that it would lay off around 10,000 staff globally, which impacted 120 employees at Microsoft Ireland.Chinese platform LinkedIn was one of the few US technology companies to successfully operate a social media site in China, where the internet is heavily regulated and censored.
“After careful consideration, we’ve made the decision to discontinue InCareer effective August 9, 2023,” the platform said in a statement on Tuesday. The US firm once achieved a rapid rise in the country, benefiting from a culture of connections, or “guanxi”, in which one’s contacts and professional network are essential assets.