LinkedIn cuts over 700 jobs, exits China app as demand wavers

LinkedIn, the social media network owned by Microsoft Corp that focuses on business professionals, said on Monday it would cut 716 jobs as demand wavers, while also shutting down its China-focused job application.

LinkedIn, which has 20,000 employees, has grown revenue each quarter during the last year, but it joins other major technology companies including its parent in laying off workers amid a weakening global economic outlook.