Chinese electric vehicle (EV) maker Nio has refuted rumors of new layoff plans, following discussions sparked on Chinese social media today.
In a post on its mobile app, Nio stated that recent claims by foreign bloggers regarding new layoffs were unfounded. Nio founder, chairman, and CEO William Li expressed that he was unaware of any such plans when asked about the issue.
The company is scheduled to hold a launch event on April 20 to unveil its full-domain intelligent driving system, according to the post.
Speculation about new layoffs began circulating on Chinese social media platform Weibo, with some bloggers citing rumors from X (formerly Twitter). These rumors suggested that Nio was planning a second round of layoffs following those in November, which were attributed to market pressures and declining sales.
In response to the November layoffs, where positions were reduced by around 10 percent, Nio emphasized greater execution efficiency and announced plans to improve resource efficiency by deferring or cutting investments in non-performing projects over a three-year period.
Although the November layoffs were completed last year, speculation about further layoffs arose in December. However, Nio swiftly countered these rumors, stating that it had no plans for additional layoffs and would continue to make dynamic adjustments in its operating markets.
