Mafengwo is rumored on Maimai, China’s LinkedIn, that it will lay off 40% of employees with severance pay amounting to two months’ pay per year of service.
NIO has made significant personnel cuts to its the autonomous driving department at its North American headquarters in San Jose, laying off another 141 employees.
A former Huawei employee was detained for extortion in late 2018 after demanding that the company pay him a contract termination compensation of roughly 300,000 yuan.
Samsung is facing an uphill battle in the Chinese smartphone sector and planning to downsize its Chinese offices to combat the increasingly intense competition.
On October 24, the company behind the fitness app Keep started a big round of layoffs, according to 36Kr.
Suning Sports, the sports division of Suning Holdings Group, has laid off 20% of its employees and restarted negotiations with Alibaba to enter a joint venture.
Following the layoff trends from the end of last year, insiders say that the ride-hailing giant Didi-Chuxing is considering massive layoffs in departments such as product technologies and ride-hailing. The layoff is expected to exceed 25 percent.