It is reported that Xiaomi started to lay off staff at the end of the year: compensation for Ninten2, which is involved in many departments.

CTOnews.com, December 19 (Xinhua)-- according to Interface News, Xiaomi recently started a round of layoffs with a compensation package of Ninten2, according to Interface News.

According to the report, a Xiaomi employee reported that the layoffs were large. According to his understanding, the Mobile phone Department, the Internet Department, the China Ministry and other departments are involved, but the intensity of layoffs among departments is not the same. Among them, the proportion of layoffs in individual departments in China is as high as 75%, and there are also 40% layoffs in the Internet department. The overall strength of this round of layoffs is not clear, according to estimates, or up to 15%.

It is reported that many laid-off employees are relatively satisfied with the compensation plan of Ninten2, and the outstanding annual leave is converted according to double salary.

It has been reported that Xiaomi is planning large-scale layoffs in order to reduce labour costs, and the number of layoffs this round is expected to reach 6000, compared with nearly 20 per cent according to this figure. Xiaomi Group has 35314 full-time employees as of September 30, of which 32609 are located in Chinese mainland, according to Xiaomi's financial report.

CTOnews.com learned that so far this year, Xiaomi's adjusted profits in the first three quarters were 2.86 billion yuan, 2.08 billion yuan and 2.12 billion yuan, a far cry from the level of five or six billion yuan in the single quarter of 2021, down 52.9 percent, 67.1 percent and 59.1 percent respectively from the same period last year.