Abstract: In response to the recent spread of large layoffs news, group purchase site Litters Group CEO Xu Maodong held Media communication will confirm the litters regiment in the country 35 five-line city began to optimize staff, the overall downsizing of 500 people. Xu Maodong also said that litters I
In response to the recent spread of the big layoffs News, group purchase website Litters Group CEO Xu Maodong held Media communication will confirm litters regiment in the country 35 five line city began to carry out "personnel optimization", the overall downsizing of 500 people. Xu Maodong also said that the litters IPO is moving ahead in a step-by-step manner and is expected to be listed on Nasdaq by year-end.
Substandard cities are "optimized"
Recently, there are media litters regiment nationwide in the mass layoffs, the proportion of layoffs as high as 70%, involving more than 3,000 people. Yesterday, Xu Maodong explained that the previous litters team of about 5500 people, after the downsizing is still about 5000 people, personnel changes are limited to such as Guangdong Shaoguan, Hubei Ezhou, Shandong Heze 35 five-line cities.
Litters this year began to assess the team or site, the main indicators are the total output of the city and per capita capacity, the assessment of 35 E-class cities (that is, five line cities) did not meet the standards, so was "optimized." However, it is not the total abolition of these 35 sites, but only by the complete 10-20-person team configuration, reduced to only 2-3 people to retain sales and business, these city merchants can continue to open in the litters Regiment, just by the nearby city hosting.
At the same time, litters group has also made a number of changes in the structure of the company: Chongqing to merge into the large area of Chengdu, Guangzhou to merge to the large area of Shenzhen, from the original 15 sales area reduced to 13 large districts.
However, there are a large number of self-proclaimed litters employees posted online, said litters regiment illegal layoffs, not compensation, and commissioned a lawyer to complain to the Labor Department. In response, Xu Maodong responded that all the staff will be cut in strict accordance with the labor law to obtain n compensation, excellent staff if willing to transfer to the vicinity of the metropolitan area. As for individual employees in the Labor Department arbitration, litters group, Xu Maodong said the final result is not out, do not comment.
Planned for the U.S. listing at the end
According to Xu Maodong, the litters group has now covered more than 200 cities, sales are still leading the country, plans to be listed in the United States on Nasdaq at the end of this year.
Xu Maodong said the litters group was listed for two purposes: the first is the weak brand in the past few months, IPO is a strategic choice, hoping to improve the brand and the user conversion rate; the second litters hopes to get the capital market through the IPO, "our management has pledged not to old stocks, only to issue new shares, listing for us is a start." ”
Not long ago the handle network outgoing news has been profitable and actively seeking to go public, on this, yesterday, Xu Maodong smile Although the current litters group gross profit margin than 10% of the industry level, but still did not reach the break-even. But the current capital market situation is not good, even the originator of Groupon IPO process is not smooth. Xu Maodong said, "No one can foresee tomorrow's capital markets, the litters group will be in the relatively correct window of the market, do not pursue the best timing, will not choose the worst." ”
Layoffs are caused by blind expansion
Yesterday, in addition to the litters Regiment's big layoffs News, the group purchase website handles the net also to expose the layoff 2400 people, the redundancy ratio 50% news. The "downsizing" was aimed at reducing spending and whitewashing financial statements, as a message was being prepared for the market. The handle net declined to comment.
Yesterday, full network CEO Feng said, the most recent group buying industry layoffs are actually because some group buying site with the venture capital early blind expansion is too serious, with group buying into the winter, financing difficulties, the larger the purchase site capital consumption, the more dangerous, is expected to be part of the year will not support collapse. And the full network has always been to the sound development of ideas, so far more than 1000 employees, in this group buy winter to take the "corner overtaking" strategy. He revealed that the full network of more than half of the country's cities can be self-financing, the overall profit is expected to be January next year, and eventually achieve the planned listing next year.