Meizu on life Support, Lay off Staffs, Closes thousands of Stores
According to the latest report, Meizu is on life support, currently struggling for survival, utilizing every available opportunity to prevent total collapse.
Two top managers had earlier left the company and according to the reports, the company has laid off more than 30% of its workforce this year and is down to just 1,000 employees across its retail stores. As at 2016 Meizu had more than 2700 stores across China, but the company is currently down to 5 – 6 stores in each of the 23 provinces of China.
Even though the company confirmed that the first 5G phones will arrive next year, but seriously fighting for survival. The question how will Meizu come out of this current situations without cutting more staffs?
Every company in one way or the other experience downtime, but with adequate strategies, they can come out of it.