Didi Chuxing plans to lay off 2000 employees approximately 15 percent of its staff this year.
Didi Chuxing plans to focus on product engineering, safety technology, international operations, and offline driver management.
Didi Chuxing lost $1.6 Billion in 2018.
Didi is a $65 Billion ride hailing unicorn.
Didi has employee counts of 13,000 employees around the world.
China’s ride-hailing unicorn, Didi Chuxing plans to lay off 2000 peoples approximately 15 percent of its staff this year. The company is taking this major step because it has to clench with regulatory scrutiny and public backlash over the murder of two high profile passengers within a time period of six months.
Chief Executive officer, Cheng Wei said in an internal meeting to his management team, Didi will put back its noncore businesses and set up investments in key sectors including product engineering, safety technology, international operations, and offline driver management.
The company is going to hire new 2,500 employees within a year to work on company priorities. By this massive hiring, it will have 13,000 employees around the world.
Didi is concentrating towards consumer safety and government concerns since from the incident when in August 2018 a passenger was raped and killed by a driver of Didi. China court has sentenced the rapist to death. Didi has to face 2nd murder incident in November last year when a passenger was murdered by driver. These incidents have disturbed the business of Didi.
Didi faded off Uber from China to become largest cab hailing firm in home place but now it is facing financial crunches because of tough competition from new players and bike sharing services including Mobike.
Recently Chinese news tech website reported Didi Chuxing lost $1.6 Billion in 2018. Didi valuation after 2018 fundraising is $65 Billion it has got a hike of $9 Billion from 2017. Didi is among the world’s top ride-hailing companies of the globe and is targeting to explore its business vastly.
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