ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Business

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.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more