LeEco to trim US work­force to 50

New Straits Times - - Business -

NEW YORK: LeEco plans to lay off more than 300 em­ploy­ees in the United States, re­duc­ing the head­count to about 50 peo­ple, said a source. The em­ploy­ees left at the whit­tled­down US busi­ness would ser­vice cus­tomers who had pur­chased LeEco de­vices, said the source. The lay­offs sharply scale back its am­bi­tions in North Amer­ica, where it made a splashy de­but in Oc­to­ber. It was re­ported last month LeEco missed rev­enue tar­gets by a wide mar­gin and was plan­ning ma­jor job cuts.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.