It’s official. There will be no massive layoffs at Meituan, the Chinese super-app. Ridesharing Forum has more.
It’s only hearsays
Word has been getting around lately saying that Meituan, which serves a big scope of the Chinese market locally and abroad primarily in deliveries, would initiate and launch large-scale layoffs, particularly in its product positions.
People who are circulating those stories are also saying that the layoff ratio is as high as 50 percent, which is mid-way.
Layoffs in the product positions are impactful. They can cause a disruption of strategic planning, delayed product development, reduced customer insight, and weakened coordination across teams.
Traditionally, the longer an employee is with the company, the better the outcomes are, and this still holds true here. Losing experienced product professionals may also slow innovation, affect morale, and create uncertainty around long-term business priorities.
It’s business as usual for Meituan, since the platform already refuted the claims, stating explicitly that the information is untrue, and remain rumors.
In fact, Meituan has its Spring Campus Recruitment 26 online application program that remains open as per usual, covering job positions in technology, product, and operations. Right now, it could be closed, so thank you so much to those who signed up and applied.
Meanwhile
Who knows of those hearsays actually came from economic and business experts, and not from ordinary people? This is since another official news has hit Meituan strongly,
Since they denied the layoffs which could give a leeway for them to save more money, so their shares officially also slumped and fell sharply late the previous week after the company denied those rumors. Ridesharing Forum’s smelling some conflict right here!
Specifically, the shares of Meituan listed in Hong Kong dropped 6.1 percent to HK$72.95 or around $10, hitting their lowest since February 2024. Too bad.
This unpleasant sell-off highlighted investor sensitivity to any signs of cost-cutting in China’s technology sector as companies grapple with slowing consumer demand and fierce competition in food deliveries and instant retail services.
As of this time, Meituan is facing intense competition from rivals, such as JD.com, Alibaba, and so much more. They have shifted their focus to subsidies and promotions to gain the share of the market.
If the Middle East has Careem, China has this super-app, Meituan that may primarily be deliveries, but they also cover local lifestyle, retail, and more in the East Asian country. It is often likened to a combination of DoorDash, Yelp, and Groupon, serving as a one-stop platform where users order food, book travel experiences, order rides, and access discounts and coupons.
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