Xiaomi Slashes 15 Percent of Jobs in Smartphone and Internet Services Business: Report

Xiaomi in November reported a 9.7 percent fall in third-quarter revenue, hit by China's COVID-19 restrictions and softening consumer demand.

Brought to you by Trickyenough

Xiaomi has started laying off workers in several units of its smartphone and internet services business, reducing its workforce by about 15 percent, the South China Morning Post reported on Tuesday.

Brought to you by Trickyenough

The Hong Kong newspaper cited social media posts by affected employees and local Chinese media, saying China's social media platforms, including Weibo, Xiaohongshu and Maimai, have been flooded with posts about the job cuts.

Brought to you by Trickyenough

Xiaomi had 35,314 staff as of September 30, the paper reported, with over 32,000 in mainland China, and the latest move could affect thousands of workers, many of whom have just joined the company during a hiring spree that began in December last year.

Brought to you by Trickyenough

The company did not immediately respond to a Reuters' email seeking comment.

Brought to you by Trickyenough

Xiaomi in November reported a 9.7 percent fall in third-quarter revenue, hit by China's COVID-19 restrictions and softening consumer demand.

Brought to you by Trickyenough

Revenue from smartphones, which make up roughly 60 percent of its total sales, fell 11 percent year-on-year, Xiaomi said. China's consumer consumption has remained weak as cities across the country continue to implement lockdowns to prevent the spread of the Omicron variant.

Brought to you by Trickyenough