Xiaomi is on the way to lay off workers. Chinese Smartphone maker Xiaomi is set to lay off workers across multiple divisions. The company is facing an economic downturn due to the lockdown in China due to Corona. Xiaomi has suffered financially. And for that reason, Xiaomi is looking to fix its financial side by laying off employees to keep the pace of business.
The news of 15 percent layoffs was first published in a local Chinese media. Reuters, however, cited reliable sources as saying that it is less than 10 percent.
According to the published news, Xiaomi is going to reduce the number of employees in several of its divisions. The layoffs will be managed through workers’ compensation in accordance with local laws, it said.
Currently, Xiaomi has more than 35,000 employees worldwide, including 32,000 employees in China alone.
Large tech companies such as Tencent Holdings and Alibaba Group have recently laid off workers due to the corona virus pandemic in China.