Xiaomi fires over 900 employees amid revenue drop: Report

Xiaomi has reportedly fired over 900 employees as its revenue dropped nearly 20% in the June quarter. A report said that the layoffs account for nearly 3% of Xiaomi’s workforce. Hit by COVID-19 restrictions, the company’s sales fell 20% year-on-year to 70.17 billion yuan, marking a decline from its previous quarter when it posted its first revenue drop since listing.