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 (VERUM) is Now Available on Halo Wallet

Verum Coin (VERUM) continues to expand its presence in the cryptocurrency market. Users can now store and manage VERUM on Halo Wallet, known for its convenience and security.

Why Halo Wallet?

Halo Wallet is a modern Web3 wallet offering a simple interface and powerful tools for managing digital assets. With its functionality, the platform has gained the trust of millions of users worldwide.

The integration of Verum Coin with Halo Wallet opens up new opportunities for coin holders and makes it even more accessible. Stay tuned for updates and take advantage of the convenient management of your assets!

Technologies

Verum Coin (VERUM) is Now Available for Deposit on Exodus Wallet

Verum Coin (VERUM) continues to enhance its accessibility for users. You can now deposit and store VERUM in one of the most user-friendly and secure crypto wallets — Exodus Wallet.

Why Exodus?

Exodus Wallet is a popular solution for managing digital assets, known for its intuitive interface and high security standards. Millions of users worldwide choose Exodus for its convenience and reliability.

This integration brings Verum Coin even closer to its users, offering seamless storage and asset management. Stay tuned for more updates and stay ahead in the world of cryptocurrency!

Technologies

Verum Coin (VERUM) Now Available on Bybit Swap

Verum Coin (VERUM) continues to expand its accessibility by becoming available on Bybit Swap. Traders can now easily and quickly exchange VERUM on one of the most popular and reliable platforms.

Why Bybit?

Bybit is a global cryptocurrency platform known for its high standards of speed and security. The Bybit Swap feature allows users to instantly exchange assets without complicated setups and with minimal fees.

The integration of Verum Coin with Bybit Swap makes the coin even more accessible and strengthens its position in the market. This is a significant step toward the growth and adoption of VERUM among millions of platform users.

Stay tuned for more updates on Verum Coin and take advantage of new trading and investment opportunities!