BEIJING (Reuters) – Chinese electric vehicle (EV) upstart Nio plans to eliminate 10% of its jobs, the company said on Friday.
The adjustments will be completed in November, Nio said in a statement, without disclosing the exact number of affected staffers.
“We still have a gap between our overall performance and expectations,” the company said, adding that it needs to improve efficiency and ensure adequate resources.
(Reporting by Zhang Yan, Qiaoyi Li and Brenda Goh; Editing by Tomasz Janowski)
