Travel Review Platform Mafengwo Rumored to Lay Off 40% of Employees
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.
Tag: #layoff
Showing 12 of 127 posts with this tag
Flexible Display Manufacturer Royole Initiates Layoffs
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.
5/20/20223 min read
Ximalaya Denies Laying Off 30%, Profitability and Innovation Remain Two Major Challenges
On December 6th, Ximalaya denies recent plans to carry out a company-wide layoff of approximately 30%.
12/7/20234 min read
ByteDance to Reduce 2022-23 Recruitment Plan
ByteDance's CEO Liang Rubo recently updated his personal OKR, which shows that ByteDance is updating its recruitment plan according to business needs and will greatly reduce the numbes it needs throughout 2022-23.
7/21/20222 min read
China's Game Industry Faces Massive Layoff Risk
Well-known game developers, including NetEase, Lilith Games, and IGG, have either curtailed development of in-house game projects or have laid off staff.
2/22/20222 min read
ByteDance Initiates Layoffs for 10% of Staff
Chinese tech giant ByteDance has launched a round of layoffs covering about one-tenth of its employees, mainly affecting staff members focused on R&D, products and operations.
Xiaomi's Impending Layoffs and Compensation Strategy Spark Employee Complaints
Xiaomi employees have corroborated the layoff rumors, criticizing the company's compensation strategy as a tactless way to avoid paying annual bonuses.
Chinese Q&A Platform Zhihu Begins Layoffs
Zhihu, a Quora-like leading Chinese Q&A platform, was reported on December 20 to be undergoing a personnel adjustment, with the affected proportion reaching 10%.
12/20/20223 min read
TikTok Is Recruiting Laid-Off Meta Employees
Meta announced 11,000 job cuts on November 9. Many affected individuals have since taken to TikTok to share their experiences and feelings of being laid off, and the ByteDance-owned short video platform has even begun to recruit a large number of them.
Bilibili Denies Layoffs as it Cuts Costs and Increases Efficiency
Video streaming platform Bilibili reportedly launched a round of systematic cost reductions. A Bilibili spokesperson acknowledged that some businesses have been adjusted recently, along with various personnel adjustments, but denied any large-scale layoffs.
Hillhouse Capital Denies Rumors of Indiscriminate Layoffs
Beijing-based investment company Hillhouse Capital is making indiscriminate layoffs, mainly involving employees of varying ranks in the primary market group. A spokesperson for Hillhouse Capital subsequently denied the news.
6/1/20223 min read
Former Huawei Employee Spends 251 Days in Prison on Bogus Extortion Charges
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.
12/2/20192 min read