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Xiaomi fires over 900 employees amid revenue drop: Report
short by Ridham Gambhir / on Sunday, 21 August, 2022
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.
read more at News18