China’s Xiaomi to reduce its workforce by 15% as it has started laying off workers in several units of its smartphone and internet services business reported by South China Morning Post on Tuesday.
The Hong Kong newspaper pointed out social media posts of the affected employees and local Chinese media, saying China’s social media platforms which includes Weibo, Xiaohongshu, and Maimai have been flooded with posts about the job cut-off.
Xiaomi has about 35,314 employees as at 30th September with more than 32,000 in mainland China.
If this cut-off of the jobs is confirmed it could affect thousands of workers, especially the ones who joined recently in December 2021 during a hiring spree.
Xiaomi Corp reported a fall of about 9.7% in third-quarter revenue hit by China’s COVID-19 restrictions and softening consumer demands. Sales in the third quarter reached 70.17 billion yuan down from 78.06 billion yuan making Xiaomi’s net income fall.
The company did not respond immediately to the comments.
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