Xiaohongshu reportedly plans to lay off 20% of staff · TechNode

Xiaohongshu reportedly plans to lay off 20% of staff · TechNode
Social media and e-commerce platform Xiaohongshu is reportedly slashing around 20% of its workforce, Chinese media outlet Sina reported on Thursday, citing employees of the company. The layoff will affect staff, mainly fresh graduates and recently joined employees, across all business departments in both Beijing and Shanghai, the two major cities where the company operates from. The Instagram-like firm joins a lengthy list of tech firms that have started to trim their headcounts since last year. In October 2021, Xiaohongshu, also known as Little Red Book, was reportedly preparing for a Hong Kong IPO after suspending its US IPO plan in July due to Beijing’s tightened reviews on overseas listings.

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