Xiaomi was having a complete labor force of 32,869 full-time representatives until June 30.
It seems that the entire technology sector is going through a tough time and in the past couple of months, we have witnessed numerous brands sacking a huge number of employees in the name of economic meltdown.
Tech giants like Microsoft, Apple, Twitter, Google, and more are also involved in the layoffs and now we have a piece of new news. It has been reported that Xiaomi the Chinese smartphone maker has laid off more the 900 employees, but the company is yet to confirm or accept the news.
Xiaomi Fired 900 Employees
According to a report from South China Morning Post, Xiaomi has cut down 3 percent of its workforce and the reason behind the layoff is an economic meltdown. The company is yet to reveal anything officially about the layoff and we still don’t know the exact reason causing the mass layoff.
The Chinese publication report suggests that the company wasn’t able to achieve the quarter target and witness a dip of 20 percent in the last quarter.
Xiaomi was having a total workforce of 32,869 full-time employees until June 30, and 30,110 were part of the mainland China office, and the rest were located in India and Indonesia.
— Layoffs Tracker (@LayoffsTracker) August 22, 2022
“In this quarter, our industry faced many challenges, including rising global inflation, foreign exchange fluctuations (and) complex political environment. These challenges significantly impacted overall market demand and our financial results for the period,” India Today quoted Wang Xiang, Xiaomi president.
Xiaomi has just now joined the club, but there are already many tech brands that have jumped into the race of layoffs long back. Recently Apple has laid off 100 contract recruiters and slowed down the hiring. Meanwhile, Google has also warned the employees about the layoffs, and employees are asked to work hard or else be ready to send their goodbyes to the company.