 |
SINA Laid off 70 Employees at Lightning Speed
When the hubbub about Wang Zhidong's resignation hasn't been quieted, Wednesday came another stunning news that the famous portal website laid off 70 employees, requesting them to leave their posts within one hour.
After Wang's resignation was released on June 4, newly appointed CEO Daniel Mao and President Wang Yan though kept their mouths clam up many media still roused sensationalized reports one after the other.
Many media in China's mainland do not believe that Wang's leaving was due to the "pursuit of his personal interests or other purposes" and the media listed the three guesses as follows: first, it is reported that China.com would purchase SINA and Wang's opinion was quite different from that of the other leading officials in this regard. Secondly, SINA did not perform very well in the first quarter, it was confronted with a great pressure from its investors, and finally, some executives in SINA do not agree with each other as to the development of the company in future.
with regard to the news that China.com would acquire SINA, board director Jiang Fengnian denied that "There is absolutely no such thing", he said that they are all rumors and untrue, and at least it has nothing to do with Wang's resignation.
However, SINA announced that it is to cut down 15% of its workforce worldwide by the end of June. But surprising enough is that it has already fired 70 employees in early June, which is just the proportion of the 15 percent out of 450 working staffs in its mainland site.
Without Wang Zhidong, where would SINA go and whether SINA's reputation will therefore suffer? Many Media are still having a heated discussions about it.
SINA is one of China's dotcoms listed on Nasdaq, its stock slumped recently with it Wednesday's close price at US$1.95.
By PD Online Staff Li Yan
In This Section
|