Market Chatter: Hisense Denies Massive Layoffs, Confirms Moderate Structural Changes

MT Newswires Live2024-12-11

Hisense Group denied reports it is laying off a large number of its workers but said it will make performance-based yet moderate organizational and employee changes, Yicai Global reported Tuesday.

The rumors said the appliance manufacturer will lay off about 20% to 30% of its workforce, slashing its headcount to 80,000 from 110,000, the report said.

Hisense said the reports were false. The appliance maker said those found blowing the news out of proportion will have to answer, the report said.

Hisense said it also needs to optimize its organizational structure and use differentiating management systems for each business segment, the report said.

Hisense counts among its units Hisense Home Appliance (HKG:0921, SHE:000921) and Hisense Visual Technology (SHA:600060).

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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