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LeEco India massively slashes workforce, is it the end?
MUMBAI: It came in like a storm with booming announcements about the humungous investments ($200 million, according to news reports) it intends to make in content in India for its LeEco content ecosystem.
It hired quick and fast and before you knew it the media went to town about how great Chinese smart phone, TV maker and online content aggregator LeEco India is.
But early into the new year, the company silently started the process of cutbacks, and has nearly shuttered its Mumbai operations. Some 400 employees were asked to take a month’s pay check in lieu of their notice period and leave.
http://www.indiantelevision.com/mam/marketing/brands/leeco-india-massively-slashes-workforce-is-it-the-end-170217
MUMBAI: It came in like a storm with booming announcements about the humungous investments ($200 million, according to news reports) it intends to make in content in India for its LeEco content ecosystem.
It hired quick and fast and before you knew it the media went to town about how great Chinese smart phone, TV maker and online content aggregator LeEco India is.
But early into the new year, the company silently started the process of cutbacks, and has nearly shuttered its Mumbai operations. Some 400 employees were asked to take a month’s pay check in lieu of their notice period and leave.
http://www.indiantelevision.com/mam/marketing/brands/leeco-india-massively-slashes-workforce-is-it-the-end-170217