Xiaomi Layoffs: Xiaomi company's revenue is falling as 15 percent of employees leave

News of layoffs at technology companies around the world is coming to the fore every day. In the meantime, smartphone brand Xiaomi also said it will fire some employees. 

The company is preparing to cut 15 percent of its workforce. According to Chinese media reports, the company was forced to take this step due to the turbulent economic conditions worldwide and local Covid-19 lockdowns. It should be noted that at least 853 technology companies around the world have laid off about 137,492 workers so far this year.

Xiaomi plans to lay off 15 percent of its total workforce (about 35,000), including many employees in its smartphone and internet service units, according to a report by China's South China Morning Post. Let us inform you that till September 30, the number of employees of Xiaomi was 35 thousand 314 people. 15 percent of it i.e. about 4 thousand people may be dismissed from the job.

The first 900 workers were laid off

Earlier, Xiaomi had decided to cut three percent of its workforce to combat the economic downturn. About 900 workers were laid off last August. A major reason behind this was believed to be a drop in the brand's profits in the second quarter of the year.

According to media reports, Xiaomi's revenue fell to 70.2 billion yuan in the second quarter of the year. Which is 20 percent less than the same period last year.

Newer Posts Older Posts

Related posts