Chinese smartphone and smart television maker LeEco India is undertaking a right sizing of its manpower in the country as part of a global exercise and will concentrate on online sales of its products, a statement issued by the company on Thursday said.
ET had reported on Tuesday that LeEcoIndia is scaling down its operations in the country, laying off people both on rolls and temporary workers and exiting offline sales to focus on online sales. The company had then not made any official statement on the India plans. The steps are taken with funds drying up from the parent organisation which is currently facing a severe financial problem.
The statement said India is one of top three markets for LeEco globally where it wants to focus on sustainability and profitability of the business.
“India being a fledgling operation, LeEco’s priority is to be an agile and nimble organization that can withstand economic headwinds and sustain a profitable operation, at all costs. To this end, LeEco has implemented a right sizing exercise across all its offices in various geographies, including India,” the statement said.
LeEco India said it has ensured complete legal compliance to all labour related regulations and is even open to offering outplacement services to affected employees who specifically seek assistance to orient them toward the future.
“The current roadmap envisages LeEco’s businesses remain rooted to the realistic growth path that the company has set for itself. A newly-launched India-specific website; a robust product pipeline in the offing ; a more consumer-centric LeMall - LeEco’s own e-commerce market place - are all powerful signals that LeEco is determinedly ushering in change which is the new norm, especially in the fastest-changing internet technology landscape,” the statement said.
ET had reported on Tuesday that LeEcoIndia is scaling down its operations in the country, laying off people both on rolls and temporary workers and exiting offline sales to focus on online sales. The company had then not made any official statement on the India plans. The steps are taken with funds drying up from the parent organisation which is currently facing a severe financial problem.
The statement said India is one of top three markets for LeEco globally where it wants to focus on sustainability and profitability of the business.
“India being a fledgling operation, LeEco’s priority is to be an agile and nimble organization that can withstand economic headwinds and sustain a profitable operation, at all costs. To this end, LeEco has implemented a right sizing exercise across all its offices in various geographies, including India,” the statement said.
LeEco India said it has ensured complete legal compliance to all labour related regulations and is even open to offering outplacement services to affected employees who specifically seek assistance to orient them toward the future.
“The current roadmap envisages LeEco’s businesses remain rooted to the realistic growth path that the company has set for itself. A newly-launched India-specific website; a robust product pipeline in the offing ; a more consumer-centric LeMall - LeEco’s own e-commerce market place - are all powerful signals that LeEco is determinedly ushering in change which is the new norm, especially in the fastest-changing internet technology landscape,” the statement said.
