Chinese conglomerate LeEco is laying off a majority of its US workforce, the company announced today. Around 70 percent, or 325 employees, will be cut from its stateside operations, with LeEco citing a lack of funding as the reason for the reduction. The company will keep operating in the US, but with a “focus on the narrower segment of Chinese-speaking households,” according to CNET. The news comes just one day after CEO Jia Yueting announced he was stepping down from running Leshi, LeEco’s holding company, in order to focus on LeEco.
LeEco got its start around 2004 as a video streaming company called LeTV. But it rebranded to LeEco last year ahead an expansion into smartphones, smart bikes, and even a supposedly self-driving electric...
from
https://www.theverge.com/2017/5/23/15680700/leeco-layoffs-problems-faraday-future-funding
from
http://ifeeltechinc.blogspot.com/2017/05/leeco-cuts-most-of-us-workforce-as-it.html
No comments:
Post a Comment