Chinese smartphone giant Xiaomi has initiated a significant round of layoffs across several departments, including its core smartphone and internet services units, as reported in late 2026. While the exact total number of employees affected was not disclosed, the cuts were severe in some areas, with certain teams in China seeing reductions of up to 75% of their staff, and the internet department experiencing a 40% headcount decline. The layoffs come in the context of a challenging economic period for the company, which saw a 9.7% year-on-year revenue decline and a 59.1% drop in adjusted net profit in Q3 2026, largely due to falling smartphone shipments. Affected employees were offered compensation packages following an "N+2" formula. As a major player in the consumer electronics and technology industry, this restructuring reflects broader pressures within the competitive tech sector.
