A luxury brand laid off employees in the Chinese market

On July 7, many media reported that a luxury car brand laid off employees in the Chinese market. It is understood that the brand's layoffs in China are mainly concentrated in the R&D center, and the layoffs involve multiple key positions such as engineering, R&D, and supply chain management. An employee of the company said that the company's layoffs in China are concentrated in R&D, engineering and other departments, which may be related to the company's some electrification projects in China being cut. It is understood that the luxury car company's layoff ratio in China varies depending on the department, with a minimum of 10% and a maximum of 70%. As for layoff compensation, the luxury car company's compensation is N+3.