The Chinese food-delivery giant says fewer than 2,000 employees have left, while workers describe the reductions as its largest personnel adjustment in years
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Chinese food-delivery giant Meituan said it has laid off fewer than 2,000 employees over the past two months, after workers described broad staff cuts across multiple business lines.
The Chinese tech company denies large-scale layoffs, calling the moves normal team adjustments
Meituan’s revenue in the three months ended March rose 5.6 per cent year on year to US$13.45 billion, according to its earnings…
Meituan Youxuan’s shutdown ended a subsidy war and opened a new phase in China’s retail competition.
Revenue for the quarter rose 14.4 per cent year on year to 105 billion yuan, beating the consensus estimate of 101 billion yuan.
Meituan’s second-quarter net profit falls to 365.3 million yuan, compared to 11.4 billion yuan a year ago.
Meituan plans to roll out “subsidies to pension insurance” for all its delivery workers across the country in 2025, CEO Wang Xing…
