It is reported that NIO is considering more layoffs: some departments may lay off up to 30% of employees

Some international expansion plans, including entering the US market, have also been postponed or suspended by NIO.

NIO Beijing Showroom

Phoenix Technology News, December 7, Beijing time, in early November this year, Li Bin, chairman and CEO of NIO, just announced that he would lay off 10% of his employees. However, people familiar with the matter said that in order to reduce costs and improve efficiency, this unprofitable new car-making force may further lay off employees.

People familiar with the matter revealed that some departments of NIO have been asked to prepare a list of preliminary layoffs, which may expand the original layoff ratio to 20% to 30% of the department. However, any layoffs will mainly target non-core businesses or those that require large investments and will not generate quick returns. Other more core NIO businesses such as sales are still recruiting. NIO's annual report shows that as of the end of 2022, the company had 26,763 full-time employees.

Some international expansion plans, including entering the U.S. market, have also been delayed or suspended by NIO, people familiar with the matter said, and these adjustments occurred earlier this year. NIO on Tuesday expected fourth-quarter revenue of up to 16.7 billion yuan (about $2.3 billion), below the average analyst estimate of 21.4 billion yuan.

In response, a company representative from NIO said the company has no plans for further layoffs and will continue to make "dynamic adjustments" in the markets where it operates.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.