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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.
East Coast of the Pacific.
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.
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.
They were going to buy US TV maker Vizio for $2B usd. That's kindof a splash.
More details
Percentage of Chinese population in the United States, 2000
"He's lost in a 'floyd hole"
Was that supposed to be funny, insightful, or informative?
When the Japanese were buying up U.S. properties in the 1980's, a reporter asked them where they were looking.
The Japanese replied, "The East Coast."
"New England, the Carolinas, Florida?" the reporter asked.
The Japanese laughed. "The East Coast of the Pacific."
The reporter didn't understand.
"California, Oregon and Washington," the Japanese explained patiently. "Your West Coast is our East Coast."
Go back to sticking your head into a bucket of Krispy Kreme, you doof.
I hate Krispy Kreme.
Percentage of Chinese population in the United States, 2000
https://en.wikipedia.org/wiki/Chinese_Americans
The Chinese American community comprises the largest ethnic group of Asian Americans, comprising 25.9% of the Asian American population as of 2010. Americans of Chinese descent, including those with partial Chinese ancestry constitute 1.2% of the total U.S. population as of 2010. According to the 2010 census, the Chinese American population numbered approximately 3.8 million. In 2010, half of Chinese-born people living in the United States resided in the states of California and New York.
Thanks Trump.
love the taste, hate the texture
That story never happened.
True story. But let's look at the historical context of that story from the L.A. Times.
The Leventhal study estimates Japanese investment in U.S. real estate last year at $5.06 billion, down from the $13.06 billion spent in 1990. The peak year for Japanese investing was 1988, when they spent $16.54 billion on U.S. properties.
http://articles.latimes.com/1992-02-21/news/mn-2588_1_japanese-real-estate
As for the Chinese, they're outspending the Japanese on real estate.
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.
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...
Source it [...]
It's a story I read in The San Jose Business Journal (now The Silicon Valley Business Journal) in the late 1980's (pre-Internet).
Gotta give Creimer credit: he stoichally shrugs off desperate and pathetic criticisms from some demonstrably sorry-ass motherfuckers while attempting to provide relevant responses points.
The Internet existed in the late 1980s, Mr "IT Wizard".
That's funny. Web browsers didn't appear until 1995.
Find it at archive.org.
Probably on microfiche at the main library.
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.
The Internet most certainly existed in the 1980s as I'm sure you're aware.
Of course. But I prefer the term "pre-Internet" because it causes magic smoke to come out of the ears of greybreads who should know the difference between the actual Internet and the Internet that the unwashed masses know about.
Your IT credentials are paper-thin.
My IT credentials began after 1995 when the Internet became the new thing for the unwashed masses.
What about gopher, email and ftp? Archie for searching....
You forget finger. Take a guess which I'm holding up now.
After that much experience, any other person would be an architect or director-level resource making bank.
Let me get this straight... I'm not good at computers because I'm not an architect or director after 20+ years? That's like saying a teacher is a failure for teaching 20+ years for not becoming a principal or school board member.
Why the fuck would you pick computers if you are not good with computers?
I'm a problem solver. I'm good with computers. I'm good with people. I bridge the gap between the two. You need support people who can do that.