Meizu cuts cuts stores, staff in bid to stay afloat

It seems Meizu is facing troubles lately as new reports claim the company has closed a number of its stores in China laying off hundreds of employees in the process. The report coming from Meizu insiders claims that the company has laid off more than 30% of its workforce this year and is down to just 1,000 employees across its retail stores.

According to the same source the company is down to 5-6 shops per province while at the peak of its popularity in 2016 Meizu had more than 2,7000 stores across China. The company is trying hard to optimize its workforce distribution in order to prevent more staff cuts.

In related news, two of Meizu's prominent figures – VP Li Nan and Systems Engineer Hong Hansheng recently exited the company. It remains to be seen how Meizu plans to stay afloat but its current situation is not well so it needs some drastic measures to get out of this slump.


Author: Michail
Source: GSMArena

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