Saturday

Byton US Office To Cut Staff By End Of June


Chinese electric vehicle brand Byton recently sent an email to its employees in North American office, stating that the company would implement a layoff in the US office before June 30, 2020 and the wage arrears would also be paid before June 30.


According to the email, its US office will keep R&D related intellectual properties and operation positions. Those core employees have received a separate notice from the vice president of the unit.


Rumor has it that Byton has been delaying payments to employees. It is said that on April 1, the company announced a salary delay plan to all employees. Byton said that due to the impact of COVID-19 to global economy, the company’s external operation environment faced a huge change and the management team decided to temporarily postpone salary payments to reduce short-term fixed cost, so as to handle the impact of economic downside risk. The plan is effective from April 1 to July 31, 2020.


An insider revealed that so far, Byton has owed about CNY100 million, which is about four months salaries, to employees in China.

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