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.
Chinese travel services and social networking platform 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.
According to insiders, the massive lay-off will start from December 12. For the employees remaining, only the core departments such as search referral and content creation can receive their year-end bonus.
Mafengwo hasn’t commented on the rumors as of yet.
SEE ALSO: Newsletter: Chinese Travel Platform Mafengwo Accused of Arranging Fake Reviews
This is not the first time that Mafengwo has had lay-off related rumors. Earlier this April, reports said that Mafengwo was laying off 10% of its employees. Just last year, Mafengwo denied accusations on Weibo that up to 85% of the reviews on their platform were fake.
The TripAdvisor-like travel services provider was founded in 2007. It completed Series E fundraising of $250 million this May, led by China tech giant Tencent.
< a href="http://decode.pandaily.com/">
If you want to explore China’s tech ecosystem but don’t know where to start, check out DecodeChina, a one-week immersion program organized by insiders from Pandaily. The latest installment will take place in Beijing and Shenzhen on January 13-19, 2020. Visit decode.pandaily.com to apply and secure a spot!
