Smartphone Maker Xiaomi Slashes 15pc Of Jobs: Report

Electronics giant Xiaomi has started laying off workers in several units of its smartphone and internet services business, reducing its workforce by about 15 percent.

Local Chinese media have said social media platforms, including Weibo, Xiaohongshu and Maimai, have been flooded with posts about the job cuts, the South China Morning Post reported on Tuesday.

Xiaomi had 35,314 staff as of September 30, the paper reported, with over 32,000 in mainland China.

The reported layoffs could affect thousands of workers, many of whom have just joined the company during a hiring spree that began in December last year.

Xiaomi in November reported a 9.7 percent fall in third-quarter revenue, hit by Covid-19 restrictions and softening consumer demand.

Revenue from smartphones, which make up roughly 60 percent of its total sales, fell 11 percent year-on-year, Xiaomi said. (Reuters)