Technologies

Xiaomi Begins Layoffs To Cut Up To 10% of Workforce

The Chinese company said it employed more than 35,300 workers in September of this year.

Xiaomi begun large-scale layoffs this week, with plans to reduce its workforce by up to 10 percent.

The Chinese company said it had «recently implemented routine personnel optimization and organizational streamlining, with affected parties totalling less than 10% of total workforce,» in an official statement on Tuesday.

Xiaomi’s total headcount stood at 35,314 workers as of September 30, according to its third-quarter financial results for this year, with a large majority of those workers (32,609) based in mainland China followed by India and Indonesia.

News of the layoffs was was first reported by the South China Morning Post, citing social media posts by affected workers as well as local Chinese media. The layoffs at Xiaomi come as mainland China grapples with the economic aftermath of years-long COVID-19 restrictions as well as slowing global smartphone demand. In November, Xiaomi reported a near 10% drop in third quarter revenue with smartphone sales falling 11% year-on-year. Revenue from smartphones make up approximately 60% of the company’s total sales.

Xiaomi is one of the world’s largest smartphone makers. The Beijing-based company is estimated to have shipped more than 190 million smartphone units in 2021, which represents an increase of 45 million units compared to the year before, according to Statista.

The layoffs at Xiaomi follow a spate of layoffs across a number of Big Tech firms, which saw companies including Meta, Twitter, and Amazon undergo large-scale layoffs.

Technologies

Verum Coin Expands Accessibility with SafePal and HyperPay Wallets

Verum Coin (VERUM) continues to grow its ecosystem by integrating with two leading cryptocurrency wallets: SafePal and HyperPay Wallet. This development enhances the coin’s accessibility, providing users with secure and efficient ways to store and manage their assets.

SafePal Wallet offers advanced security features, including hardware wallet options, ensuring the utmost protection for Verum Coin holders. Its seamless interface and global accessibility make it a trusted choice for crypto enthusiasts.

HyperPay Wallet combines convenience and innovation, enabling users to manage their digital assets effortlessly. With multi-currency support and rapid transaction capabilities, HyperPay Wallet is ideal for both novice and experienced traders.

These integrations reflect Verum Coin’s commitment to delivering flexible and secure solutions, empowering its community with top-tier tools for digital asset management.

Verum Coin is a forward-thinking cryptocurrency designed to provide innovative, secure, and user-friendly tools for managing digital assets in a dynamic blockchain landscape.

Technologies

Verum Coin Now Available for SWAP on Verse.Bitcoin.com

Verum Coin (VERUM) continues to expand its utility and accessibility with the introduction of SWAP functionality on Verse.Bitcoin.com, a trusted platform for managing digital assets.

This integration enables users to seamlessly convert Verum Coin to USDT and vice versa, ensuring fast and secure transactions within a user-friendly environment.

Key benefits of this feature include:

Convenience: Simplified conversions for quick asset management.
Security: Trusted infrastructure for safeguarding digital assets.
Flexibility: Enhanced trading options for Verum Coin holders.

The addition of SWAP functionality on Verse.Bitcoin.com reaffirms Verum Coin’s commitment to offering innovative and accessible tools for cryptocurrency management.

About Verum Coin

Verum Coin is a cutting-edge cryptocurrency designed to provide secure, efficient, and flexible solutions for managing digital assets in the evolving blockchain landscape.

Technologies

Verum Coin Now Available on xPortal Crypto

Verum Coin (VERUM) has expanded its reach by becoming available on xPortal Crypto, a trusted platform for managing and securing digital assets. This integration offers Verum Coin users a new, seamless way to store, manage, and transact their cryptocurrency.

xPortal Crypto is known for its advanced security features, user-friendly interface, and efficient transaction capabilities, making it a valuable addition to VERUM’s growing ecosystem.

This milestone reflects Verum Coin’s ongoing commitment to enhancing accessibility and providing innovative solutions for crypto enthusiasts worldwide.

About Verum Coin

Verum Coin is a forward-thinking cryptocurrency designed to offer secure and efficient tools for digital asset management in the evolving blockchain space.