Xiaomi Will Layoff Many Employees Towards the End of 2022!

We have been informed that many of Xiaomi’s employees will be layoff from many Xiaomi departments. Xiaomi employees will be laid off by 2022. As you know, Xiaomi is a very huge company and has many sub-companies, so it isn’t even possible to estimate how many workers it has.

Xiaomi’s Layoff Rate Can Reach up to 15%

A Xiaomi employee told China’s financial news agency Jiemian News, that burden of layoffs is huge. Rate of this wave of layoffs has not yet been clarified, but judging by the data, rate is reaching 15%. Financial report shows that as of September 30, Xiaomi Group had a total of 35,314 full-time employees, of which 32,609 were in China.

As far as the employee in Xiaomi department who submitted the information knows, it’s in different proportions between the smartphone department, IoT department, base China department and other departments. Rate of layoffs in individual departments in China is up to 75%, and the IoT department also has a layoff 40%.

Wang Xiang, leader of Xiaomi Group said; “Cost reduction and productivity improvement, reduce human and our costs,” at the 2022 Q3 financial report meeting. Wang Xiang outlined his roadmap as “Principle of continuing to work on reducing costs and reducing them in order to maintain their overall performance next year.” Xiaomi’s adjusted profit for the first three quarters this year was CNY 2.86 billion, CNY 2.08 billion and CNY 2.12 billion. Reason for the layoffs is probably to preserve financial strength.

And Xiaomi, has not yet commented on this issue. We will see the positive reflection of this growth-oriented move by Xiaomi in the coming days. We will continue to inform you when there is a development regarding the news in question. Your opinions is valuable to us, don’t forget to comment below and stay tuned for more.

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