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go through Hong Kong Economic Times July 5, 2024
Mainland media reported that the social platform Xiaohongshu will launch a new round of layoffs in the near future.
The report quoted Xiaohongshu employees as saying that the layoffs were large in scale and mainly targeted employees with performance scores of 3.5 or below, accounting for about 30% of the total number of employees. The layoffs have now reached the HC lock (i.e., recruitment suspension) stage, and a personnel inventory is being conducted, but no official notification has been made.
According to internal employees, the company’s new senior management is dissatisfied with the current labor productivity ratio, believing that it is only half of that of the industry leader Pinduoduo, so they decided to optimize the organizational structure.
The news pointed out that Xiaohongshu’s core departments such as e-commerce product department, commercialization department and community technology department may be significantly affected, and there will also be layoffs in other functional lines.
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