Layoffs of 15 percent employees from smartphone company xiaomi, reason being told for covid lockdown
xiaomi plans to lay off 15 per cent of its total workforce (about 35,000), out of which layoffs have already started in its smartphone and internet services units.
Smartphone brand xiaomi has also announced to cut its employees amid layoffs in tech companies around the world. The company is preparing to lay off 15 percent of its employees. According to Chinese media reports, the reason for the layoffs in the company is being attributed to the company's poor global macroeconomic conditions and the local covid-19 lockdown. Let us tell you that this year at least 853 technology companies around the world have laid off about 1,37,492 employees so far.
According to China's South china Morning Post, xiaomi plans to lay off 15 per cent of its total workforce (about 35,000), out of which layoffs have already begun in smartphone and internet services units. Let us tell you that till september 30, xiaomi had 35,314 employees. That means about 4 thousand people can be fired.
Earlier, xiaomi had decided to lay off three percent of its employees from the company to deal with the economic slowdown. Around 900 employees were laid off in the august layoffs. The decreasing revenue profit was also believed to be the reason behind this.
the revenue of smartphone maker xiaomi declined to 70.2 billion yuan in the second quarter of the year. Compared to the company's revenue in the same month last year, it registered a decline of 20 per cent. That is, there was a huge decline in it as compared to the previous quarter.
Giants like Meta, Amazon, hp and twitter have laid off a large number of employees. According to the data, at least 853 technology companies around the world have laid off around 137,492 employees so far. Amidst the sound of global recession, more and more companies across the tech spectrum continue to lay off.
According to data from Layoff.FY, a cloud-based database, 1,388 tech companies have laid off a total of 233,483 employees since the start of COVID-19. In these figures, 2022 has been the worst year for the tech sector.
