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Xiaomi Layoffs: Global technology brand Xiaomi has made some changes in the retrenchment program for its employees. Xiaomi said the company is implementing organizational restructuring and personnel optimization that will affect less than 10 percent of its total workforce. Earlier reports claimed that Xiaomi may cut its workforce by 15 per cent amid the Covid lockdown in China and poor global economic conditions.
Company spokesperson gave information
A company spokesperson told IANS, “Xiaomi has recently implemented regular personnel optimization and organizational streamlining, with the affected party being less than 10 per cent of the total workforce.” The spokesman said that those affected have been compensated “in compliance with local regulations”.
South China Morning Post had given information about 15% employees losing their jobs
The South China Morning Post had earlier reported that Xiaomi may lay off employees across multiple departments as it largely aims to reduce its workforce by 15 per cent amid global macroeconomic conditions and local COVID-19 lockdowns. The report cited several social media posts by affected Xiaomi employees and local Chinese media reports.
Why Xiaomi adopted the way of retrenchment
Xiaomi had 35,314 employees as of September 30, with more than 32,000 in China. The news of layoffs has come because Xiaomi’s financial performance has been under pressure in 2022. The Beijing-based tech giant began laying off employees this year amid weak sales due to the Kovid-19 lockdown in China and slowing consumer spending. Meanwhile, India saw 44.6 million smartphone shipments in the third quarter this year.
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