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Investing.com -- Chinese electric vehicle manufacturer, Nio, has started a fresh round of layoffs across its European operations. The move is part of an effort to decrease operational costs by 25% on a global scale, according to information from two internal sources that was shared with EV on Friday.
The majority of the job cuts are taking place in the company’s design and research and development (R&D) departments. Employees in these departments were informed of the layoffs during internal meetings on Friday, one of the sources revealed.
Nio has not made an official announcement about the layoffs and is carrying out the cuts without a formal internal communication such as a company-wide email. Instead, the affected employees were informed through messaging platforms.
For the time being, Nio’s global business division, which includes operations managed by Chris Chen, remains unaffected. However, the situation could change in the upcoming weeks, another source indicated.
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