Friday, 24 March, 2023

Xiaomi fires over 900 employees amid revenue decline: Report

<p>Xiaomi is said to have let go of more than 900 workers. In response to the economic downturn, Xiaomi laid off approximately 3% of its workers. The company reported a significant decline in second-quarter revenue as the world&#39;s largest smartphone market contracted as a result of stringent COVID regulations. Xiaomi&#39;s sales missed projections and decreased 20% year over year to 70.17B yuan ($10.31B), which was a sharper decline than the previous quarter.</p>