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01.12.25 - 12:02
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Tech Brief (Dec. 1): Baidu Initiates Largest Layoffs in Years (Caixin)
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Baidu Initiates Largest Layoffs in Years
Baidu Inc. has begun cutting staff across various business lines, multiple employees told Caixin. The reductions range from 10% to 25%, with some departments seeing cuts of nearly 30%, marking the company's largest workforce contraction in recent years. Sources noted that severance packages can reach as high as “N+3.5,” referring to the number of years of service plus 3.5 months of salary.
Meituan Swings to Quarterly Loss
Meituan posted a net loss of 18.63 billion yuan ($2.6 billion) in the third quarter of 2025, marking its first quarterly loss since 2023, compared with a profit of 12.87 billion yuan a year earlier. Revenue grew 2% to 95.49 billion yuan, the slowest pace since the second quarter of 2020. The adjusted net loss stood at 16.01 billion yuan, widening beyond market expectations of 13.96 billion yuan. Meituan attributed the downturn to intense market competition and warned that it expects operating losses to continue in the fourth quarter for both ...
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