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China's Xiaomi Corp has started laying off workers in several units of its smartphone and internet services business, reducing its workforce by about 15 per cent, the South China Morning Post reported on Tuesday.
The Hong Kong newspaper cited social media posts by affected employees and local Chinese media, saying China's social media platforms, including Weibo, Xiaohongshu and Maimai, have been flooded with posts about the job cuts.
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IT companies should use the period of slowdown to reskill employees and invest for the long termXiaomi had 35,314 staff as of September 30, the paper reported, with over 32,000 in mainland China, and the latest move could affect thousands of workers, many of whom have just joined the company during a hiring spree that began in December last year.
The company did not immediately respond to a Reuters' email seeking comment.
Xiaomi in November reported a 9.7 per cent fall in third-quarter revenue, hit by China's Covid-19 restrictions and softening consumer demand. Revenue from smartphones, which make up roughly 60 per cent of its total sales, fell 11 per cent year-on-year, Xiaomi said.
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