Xiaomi (1810) yesterday denied that it was planning large-scale layoffs before paying year-end bonuses in March to save costs.
The denial came in response to a post on a social media platform that the smartphone manufacturer was to start a new round of layoffs at the end of this month and compensate those workers with an additional month's pay.
It was posted by a user who claimed to be a Xiaomi worker.
The user also complained that this round of layoffs would reduce the employees' income as the year-end bonus is scheduled to be delivered on March 5.
Wang Hua, general manager of the public relations department at Xiaomi, posted on Weibo that the company does not have any layoff plans. He added there is only a "normal adjustment" based on the year-end performance review, which Chinese tech companies often refer to for their job cuts.
Meanwhile, electric vehicle maker Xpeng (9868) said it would hire 4,000 this year and invest millions in artificial intelligence, as it seeks to survive what it describes as a "bloody sea" of competition in the world's largest auto market.
