Rumor: VODone Cuts 2/3 of Employees
Netease Tech, 12/28/10
An internal source at Chinese online video broadcasting and video advertising company VODone (0082.HK) has confirmed that the company began layoffs last week that will affect two-thirds of the company's personnel.
The source received that the two-thirds of employees affected by the layoffs includes those still in their trial periods, most of whom were simply fired, whereas a small fraction will work until the end of their trial period before being let go. The website business division lost over 100 people, the Linxun team in the LBS products division was cut from 40 employees down to roughly 10, and the advertising and group market divisions were both "cut to almost nothing."
The source indicated that the company only explained that the cuts were a part of "operational adjustments," leaving employees to guess the precise cause.
Keywords: Internet online video LBS VODone 0082.HK Linxun HR
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