Baidu-Geely JV Jiyue Discloses Layoff Package After Employee Clashes
Jiyue, the electric vehicle joint venture between Chinese tech giant Baidu and automaker Geely, has disclosed its severance package following intense confrontations with employees facing layoffs. Affected workers are expected to receive their salaries by Friday, along with compliant severance pay covering periods through December. During meetings with management and human resources representatives, Jiyue Chief Operating Officer Luo Gang provided details on the exit process. The company confirmed it would offer an "N+1" compensation structure, which includes statutory severance plus one additional month's salary, adhering to Chinese labor laws. This development follows a chaotic period initiated on December 11, when Jiyue announced plans to cut the majority of its workforce. The situation escalated quickly, with viral videos emerging the next day showing Chief Executive Xia Yiping surrounded by dozens of disgruntled employees demanding payment. Some individuals in the footage were seen wearing employee lanyards, highlighting the internal tension. The resolution marks the latest step in addressing the unrest within the joint venture, aiming to stabilize operations after significant public and internal pressure regarding the mass redundancies and financial obligations to former staff.
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Baidu-Geely JV Jiyue Discloses Layoff Package After Employee Clashes
Jiyue, the electric vehicle joint venture between Chinese tech giant Baidu and automaker Geely, has disclosed its severance package following intense confrontations with employees facing layoffs. Affected workers are expected to receive their salaries by Friday, along with compliant severance pay covering periods through December. During meetings with management and human resources representatives, Jiyue Chief Operating Officer Luo Gang provided details on the exit process. The company confirmed it would offer an "N+1" compensation structure, which includes statutory severance plus one additional month's salary, adhering to Chinese labor laws. This development follows a chaotic period initiated on December 11, when Jiyue announced plans to cut the majority of its workforce. The situation escalated quickly, with viral videos emerging the next day showing Chief Executive Xia Yiping surrounded by dozens of disgruntled employees demanding payment. Some individuals in the footage were seen wearing employee lanyards, highlighting the internal tension. The resolution marks the latest step in addressing the unrest within the joint venture, aiming to stabilize operations after significant public and internal pressure regarding the mass redundancies and financial obligations to former staff.
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