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LeEco Said To Lay Off Over 80 Percent of US Workforce (cnbc.com)
An anonymous reader quotes a report from CNBC: LeEco, a Chinese company that made a big splash in the U.S. last fall, is preparing for a round of layoffs that may happen as soon as Tuesday, according to sources. Two people told CNBC the company is planning massive layoffs in the U.S., with one source saying that only 60 employees will be left after the cut. The company's current headcount in the U.S. is over 500, according to this person. CNBC obtained an email calling employees together for a Town Hall Meeting that will occur in three of the company's U.S. locations, including San Diego, Santa Monica and San Jose, at 10 a.m. PST. The email asks employees to attend unless they're off for the day, in which case they're asked to call in. It's not clear what will be announced at the meeting, but a second source told CNBC that layoffs will be announced tomorrow. Under the restructuring, LeEco will refocus on encouraging Chinese-American consumers to watch LeEco's Chinese content library, one person said.
and they do what? And I should care why?
Don't fight for your country, if your country does not fight for you.
I can't comprehend why in the world you would choose California to open offices?
Really, never heard of them.
The USA is becoming less and less dominate in the World. Most of the economic growth is in the Third World. And as they continue catching up, we will have more layoffs from both foreign and domestic firms and we will see our standard of living continue to decline.
We had a great run from the end of WWII to about 2000. It was just a historical fluke but we Americans have come to think that it's the norm because of our "exceptionalism". Well we're regressing back to the mean of our historical pre-WWII growth of about 1 - 2%. And there is nothing politically that can be done about it - contrary to what Trump and his supporters believe.
Pud would have something funny here.
To mention what kind of company they are, poster. Whether you intended to or not, you have created click-bait. Sloppy. . . .
Wouldn't it be horrible if you found out you were about to be laid off from a Slashdot article?
The U.S. depends upon the ability to force the world to use the U.S. dollar to buy oil. As the world transits away to renewable energy, the ability of the U.S. to print money and have it bought by the rest of the world declines, leading to inflation and economic decline.
It would be helpful to readers if the summary contained any info at all about the company's main product or reason why this is significant. Instead, the summary dwells only on the method of the layoffs, which is not original at all.
$5 / month hosted VPS on linux = awesome!
Layoff - a discharge, especially temporary, of a worker or workers
I love how business has gotten so good at crafting the message. They didn't fired everyone, they were layed off. Like the dead were going to come back to life or something.
Thanks Trump.
love the taste, hate the texture
Unlike the NeverTrump people who consider him to be the worst president ever elected and consistently bash him no matter what he does.
Well, here is something to REALLY think about. If he is the worst president to be elected, what does that tell you about the person who LOST the election?
Note what LeEco is saying here: they're creating Chinese content for US citizens who are of Chinese descent. They're not trying to open up the American market in general the way the Japanese did with anime, video games, etc. This is targeted by ethnicity.
More and more this seems to really be a thing with the immigrant diasporas in the West, and it's going to bring multi-culturalism down hard. Multiculturalists like to say "well the Italians integrated you racist!!" Well, yes they did, but I also know virtually no descendants of Italian immigrants that actually think they're Italian, speak Italian and frankly give a shit what happens in Italy. It is more "cultural flavor" and closer to white Southerners being proud of their heritage than a truly distinct claim on ethnicity.
So take whatever difficulty you'd have integrating a racially diverse set of new immigrants into a still largely homogeneous society, add in a heaping dose of Capitalist encouragement to not give up the old ways and you have a recipe for long term, very severe ethnic conflict. In the long run, there are few things we all share deeply in common at group levels, but one of those things is tribalism. You can indoctrinate that out of us about as well as you can indoctrinate pack instincts out of dogs.
Yes, both choices sucked. Clearly the problem started in the primaries, or before.
Can you name one thing Trump has done that you consider positive?
So company that I've never heard of goes out of business... Umm why isn't that a surprise? How's this even news? I initially actually mistook the company name for "La Crosse" which makes a lot of home weather monitoring equipment. I wonder if anyone else thought this...
He's kept the other politicians so busy trying to figure out how his daily dramatic episode is going to affect them politically that they don't have time to get anything else done... that's a positive thing.
I am actually quite well aware of this tendency among the Chinese, which is why to the extent that we allow immigration from China it should be both very limited and immigrants who betray their new citizenship should be ruthlessly dealt with by the legal system because you are fighting not just individuals, but a culturally-ingrained instinct in that legal fight. Frankly, we should be taking a sober view and asking ourselves whether it is really worth the risk in the long run, and I personally don't think it is (and China agrees, which is why like most of East Asia they have a pittance of the legal immigration we do).
Better fanfic than most.
Trump was a filthy discusting scumbag way before the presidency was even an idea in his mind. Anyone that has lived even just a few minutes on this planet at any time in the past 40 years should have known that.
When will you thick-skulled Trump apologists get it ? It's not about democrats vs republicans, conservatives vs liberals, it's about TRUMP for fuck's sake ! Do you really believe any other republican president would have generated as much ire and discontent as Trump has ? Do you really think Trump has managed to get the lowest presidential approval rate of all U.S. history simply because he's a republican president ?
Wake the fuck up for christ's sake. Trump is a master con-artist and he successfully conned the fucking presidency because of clueless, ignorant, gullible idiots like yourself who actually believed that he would sincerely fight on behalf of people he's build his entire fortune and carreer screwing over.
As 'LetGo'!
No idea why anyone posts under a uid anymore. I stopped ages ago.