Xiaomi begun large-scale layoffs this week, with plans to scale back its workforce by as much as 10%.

The Chinese language firm stated it had “lately applied routine personnel optimization and organizational streamlining, with affected events totaling lower than 10% of complete workforce,” in an official assertion on Tuesday.

Xiaomi’s complete headcount stood at 35,314 staff as of Sept. 30, in response to its third-quarter monetary outcomes for this yr, with a big majority of these staff (32,609) based mostly in mainland China, adopted by India and Indonesia.

Information of the layoffs was was first reported by the South China Morning Publish, citing social media posts by affected staff in addition to native Chinese language media. The layoffs at Xiaomi come as mainland China grapples with the financial aftermath of years-long COVID-19 restrictions in addition to slowing international smartphone demand. In November, Xiaomi reported a close to 10% drop in third-quarter income with smartphone gross sales falling 11% yr over yr. Income from smartphones makes up roughly 60% of the corporate’s complete gross sales.

Xiaomi is among the world’s largest smartphone makers. The Beijing-based firm is estimated to have shipped greater than 190 million smartphone models in 2021, which represents a rise of 45 million models in comparison with the yr earlier than, in response to Statista.

The layoffs at Xiaomi comply with a spate of layoffs throughout plenty of Huge Tech corporations, which noticed firms together with Meta, Twitter, and Amazon endure important layoffs. 

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