Xiaomi to start huge layoffs; employees are panicking
Chinese tech giant Xiaomi has started their huge layoffs according to rumors. The employees are panicking now.
Economic crisis hits every company hard, and chinese tech giant Xiaomi is no exception. After Twitter's huge layoffs now Xiaomi has been planning to do the same. The chinese tech giant plans to do huge layoffs and employees are panicking now.
Xiaomi to start huge layoffs; employees are panicking
As economic pressures persist, there are rumors of layoffs at Xiaomi. According to reports, there will be layoffs in multiple departments at Xiaomi. Many companies around the world have made layoffs. In this context, it seems that the Chinese technology giant will also lose.
Supposed layoffs of up to 75% have occurred in some departments, while approximately 40% of their teams have been eliminated in others. Although the total number of layoffs has not yet been established, it is anticipated to reach 15%. Impacted workers are allegedly getting N+2 pay, which incorporates twofold compensation for unused excursion days. As a consequence of this, the business might be trying to cut costs by laying off employees. The company had 35,314 full-time employees as of September 30, with 32,609 based on the mainland of China. How the company will continue to compete in a crowded and highly competitive market and how the layoffs will affect its operations and performance in the future remain to be seen.
