in

KE Holdings scales back businesses as China’s housing market cools · TechNode


KE Holdings, or Beike, a Chinese online real estate brokerage backed by Tencent and Softbank, has reportedly laid off an entire research and development team in Shanghai. The company attributed the layoff to “drastic changes in the industry.” China’s housing market is cooling down in recent months, partly due to increased curb on lending. The US-listed firm said it will comply with labor laws and make proper arrangements for affected employees. [The Economic Observer, in Chinese]



Source link

What do you think?

Written by Aakash Malu

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading…

0

Comments

0 comments

JD launches one-hour delivery service with Dada Group · TechNode

Tesla sold record number of Chinese-made cars in September · TechNode