Layoffs in China’s largest smartphone maker: Xiaomi laid off 15% of its total workforce.

Chinese technology company Xiaomi has started layoffs. According to the Hong Kong-based newspaper South China Morning Post, Xiaomi has started laying off workers from its smartphone and internet services units. According to the report, Xiaomi has laid off around 15% workers from its total workforce. As of September 30, Xiaomi’s total workforce stood at 35,314, of which 32,000 are based in China.

Many of the people affected by the layoffs had recently joined the company

Many of the people affected by this layoff had recently joined the company. Xiaomi did the hiring in December 2021. Then there were layoffs in November after Xiaomi reported a 9.7% drop in third-quarter revenue due to COVID-19 restrictions in China and a slump in consumer demand. Smartphone revenue, which makes up about 60% of the company’s total sales. It had fallen 11% year-on-year.

Many employees expressed grief on social media platforms

Several Xiaomi employees affected by the layoffs have expressed their grief on several Chinese social media platforms, including Weibo, Xiaohongshu and Maimai. The report claims that all platforms are flooded with posts about Xiaomi job cuts. Xiaomi is one of the biggest smartphone makers in the world and the biggest company in China. The layoffs show that a new wave of job cuts has begun to hit Chinese companies as well.

A few days ago, the latest flagship Xiaomi-13 series was introduced.

Xiaomi introduced its latest flagship Xiaomi-13 series a few days back. The top-tier Qualcomm Snapdragon chipset and Snapdragon 8 Gen-2 have been used in this new smartphone. Xiaomi-13 has focused on key-areas like camera, battery and design. The company has to compete with Chinese rivals like Vivo, Oppo and OnePlus in the market.

In India, Xiaomi is losing market share to manufacturers like Samsung, Vivo, Realme and Oppo. However, Xiaomi continues to hold on to the top spot. According to Counterpoint Research, Xiaomi’s rivals are now very close to it. Xiaomi and Samsung both have a market share of 19-19% in the Indian market. After these two, Vivo has 17%, Realme 16% and Oppo 11%.