DiDi to cut up jobs before Hong Kong listing
The Chinese transportation company, DiDi, plans to decrease its overall headcount by 20% as the troubled tech company pushes ahead with plans to move its stock-market listing to Hong Kong.
The cuts will affect most of the company’s core businesses aim to reduce expenses ahead of the Hong Kong listing. Anonymous people said this, asking not to appear identified as the information isn’t public. Ride-hailing might see staff reductions of up to 15%, though drivers won’t be affected.
A DiDi spokesperson didn’t directly comment on the job reductions, first reported by Chinese media Late Post. Some people said that the company has already reduced investments in once red-hot businesses like community grocery buying. Another person said that some units such as Didi Finance, expanding outside China, and its autonomous driving business will face less impact.
DiDi emerged as one of the biggest targets of a crackdown by Chinese authorities. In June, the company pulled off its $4.5 billion U.S. initial public offering against Beijing’s wishes. Days after its listing, the company was under a cybersecurity probe, and its services disappeared from Chinese app stores.
Overview of currency pairs besides DiDi situation
Currency bid prices
Dollar index
96.3090 95.9340 +0.40% 0.676% +96.4410 +95.9040
Euro/Dollar
$1.1301 $1.1347 -0.40% +0.00% +$1.1379 +$1.1280
Dollar/Yen
115.5700 115.5300 +0.04% +0.00% +115.7460 +115.0200
Euro/Yen
130.61 130.96 -0.27% +0.00% +131.3800 +130.0500
Dollar/Swiss
0.9252 0.9255 -0.03% +1.45% +0.9273 +0.9239
Sterling/Dollar
$1.3528 $1.3562 -0.26% +0.02% +$1.3571 +$1.3495
Dollar/Canadian
1.2723 1.2739 -0.12% +0.00% +1.2784 +1.2720
Aussie/Dollar
$0.7126 $0.7138 -0.17% +0.00% +$0.7150 +$0.7087
Euro/Swiss
1.0457 1.0502 -0.44% +0.00% +1.0514 +1.0438
Euro/Sterling
0.8351 0.8369 -0.23% +0.00% +0.8386 +0.8347
NZ
Dollar/Dollar $0.6615 $0.6653 -0.66% +0.00% +$0.6649 +$0.6593
Dollar/Norway
8.8885 8.8700 +0.28% +0.00% +8.9490 +8.8695
Euro/Norway
10.0451 10.0607 -0.17% +0.00% +10.1251 +10.0321
Dollar/Sweden
9.3846 9.3273 +0.13% +0.00% +9.4499 +9.3030
Euro/Sweden
10.6044 10.5918 +0.13% +3.62% +10.6917 +10.5743
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