SHANGHAI (REUTERS) - A Chinese media company said it will lay off 500 employees due to the coronavirus outbreak, the latest among a string of firms to do so in the past two weeks as the epidemic takes a toll on small-to-medium sized businesses.. Read more at straitstimes.com.
SHANGHAI - A Chinese media company said it would lay off 500 employees due to the coronavirus outbreak, the latest among a string of firms to do so in the past two weeks as the epidemic takes a toll on small to medium-sized businesses.
The job cuts come even as President Xi Jinping said the government would prevent large-scale layoffs caused by the virus outbreak - which has killed more than a 1,000 people in mainland China and infected over 40,000.But many companies are hurting from disruptions felt since late-January after local governments extended Chinese New Year holidays and urged people to stay home.
DISRUPTIONS Chinese restaurant chain Xibei, which has over 360 outlets, has said it is worried about wages for its roughly 20,000 workers, given how the epidemic had impacted its income.
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