The well-known Chinese company is about to announce another big failure. Following the financial crisis, LeEco is about to announced another round of layoffs that may happen as soon as Tuesday and is allegedly preparing to lay off 80% of its US staff.
Out of 500 employees, reportedly only 60 employees will be left in the United States. The company is also selling off its Silicon Valley HQ. In addition to this, CEO Jia Yueting resigned from the position last Sunday. The future isn't looking good for once perspective TV and smartphone company.
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