Xiaomi Denies Rumors of Mass Layoffs

(Source: Xiaomi)

Rumors have swirled recently that Chinese tech giant Xiaomi plans to lay off 10% of its employees, mainly targeting new employees and fresh graduates. Before the concerns became public, Xiaomi employees had already lamented online that the company set the ratio of year-end merit pay at the “C level” of 10%.

A Xiaomi spokesperson responded…