XIAOMI FIRED MORE THAN 900 EMPLOYEES AFTER WEEKLY REPORT
The Chinese smartphone maker, Xiaomi, has reportedly laid off more than 900 employees. The company hasn't officially confirmed the layoffs at this time.
The tech industry is facing a challenging moment. Recently, we've encountered a variety of big tech companies that needed to shed certain employees due to different reasons.
One of the latest names added in the list of firms who let employees go is Xiaomi.The Chinese manufacturer of smartphones has laid off 900 workers. However, the company hasn't officially confirmed the layoffs until now.
Xiaomi has laid off nearly three percent of its workforce due to economic slowdown, according to a report by South China Morning Post stated.
It is unclear what exactly caused the layoffs, however it's believed to be due to the decline in revenue.
According to the publication, Xiaomi couldn't achieve the quarterly goal and the company's revenue dropped around 20 percent during the June quarter.
At the end of June, Xiaomi had 32,869 full-time employees. The majority of them were located in mainland China which is the headquarters of the company is located in Beijing
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In a conference call Xiaomi president Wang Xiang declared, "In this quarter, Xiaomi faced issues, such as rising global inflation, fluctuations in foreign exchange & complicated political climate"
Xiaomi doesn't have to be the sole company to cut employees. In the past, Apple laid off around 100 employees. However, Google warned of layoffs.
Certain senior Google executives urged employees to be adamant or be prepared for layoffs following the quarter's end. Recently the Google's CEO Sundar Pichai also said that there is a lot of employees in Google, yet very few of them work
Large tech companies such as Netflix, Twitter, and Microsoft as well as many others, have dismissed hundreds of employees over the past few months.
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