LeEco to trim US workforce to 50
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.