Showing 4 of 4 posts with this tag
Flexible display maker Royole Corporation started a round of layoffs on Wednesday. This is the first round of large-scale layoffs at the company since it fell into a capital shortage crisis.
A number of employees from Royole, a flexible display developer in China, told local media outlet on Thursday that, as of Friday night, they had received all the wages they were previously owed.
Chinese flexible display maker Royole has delayed paying salaries to employees for months after the money-losing company ditched its initial public offering (IPO) plan in Shanghai's Nasdaq-like STAR Market in February.
Shenzhen-based rollable display developer Royole, which once had a valuation of more than 50 billion yuan ($7.8 billion), was reported to have a shortage of funds and faced arrears in its employees' salaries.