Monday, February 18, 2019

ICYMI: "China ride-hailing giant Didi to lay off 15 percent staff this year: source"

It is starting to look like Mr. Son's Vision Fund investees got a memo to tighten up operations.
From Reuters:
Didi Chuxing will lay off 15 percent of its staff or about 2,000 people this year, a source said, marking the ride-hailing firm’s first major cut back as it grapples with regulatory scrutiny and public backlash over the murder of two of its users.

Didi CEO Cheng Wei said at a meeting with management that the firm would focus on core mobility services and cut business units considered not critical to its main ride-hailing business in 2019, according to the source familiar with the matter.

But the Chinese ride-hailing giant will aim to hire more than 2,000 employees to focus on safety technology, product engineering and international expansion with the goal of maintaining its overall employee count, the source added on condition of anonymity as the information is not public yet....MORE