ChinaHR Begins Layoffs
Sina Tech, 1/30/13
Online recruitment website ChinaHR began large-scale layoffs yesterday, reducing headcount at the company's Beijing headquarters by about 50%. Laid-off employees received compensation packages based on their time spent with the company.
In response to the compensation packages given to departing employees, over 200 current ChinaHR employees began a sit in on the evening of January 29, occupying the company's headquarters on the thirteenth floor of a Beijing office building. Both Luo Bingquan, CEO of ChinaHR, and a high-level administrator sent over by US parent company Monster, the current owner of ChinaHR, were detained in the office. After nearly ten hours of negotiation, Monster CEO Sal Iannuzzi called a last-minute phone meeting, conditionally offering current ChinaHR employees compensation equal to employees who had already been laid off.
Editor's Note: For more information on this topic, please see "Rumor: Myjob Acquires ChinaHR for USD 30 Mln," MD 1/25/13 issue.
Keywords: Internet ChinaHR Monster online recruitment HR
Sending
