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Cash-strapped LeEco puts the brakes on expansion

Vice president confirms 10% cut to workforce of debt-ridden tech group

LeEco vice president Jia Yuemin has revealed the company's latest plans, including cost-cutting. (Photo by Daisuke Harashima)

BEIJING Chinese technology and entertainment company LeEco has not been shy about expanding into diverse sectors, from video streaming and smart devices to electric cars and content production, but mounting debts have now forced it into a structural rethink.

Jia Yuemin, vice president of the group's holding company Le Holdings and older brother of founder and CEO Jia Yueting, revealed the company's restructuring blueprint to the Nikkei Asian Review.

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