Tech company Baidu (HKG:9888, HKG:89888) and carmaker Geely Holding Group's (HKG:0175) car-making partnership Jiyue Auto has denied online rumors about mass layoffs and executive resignations, Yicai Global reported Tuesday.
CEO Xia Yiping denied the rumors via Weibo and said information will be communicated via formal channels soon, the report said.
The denial follows reports on Chinese professional social media platforms for professionals Maimai, suggesting that 40% of the workforce was being let go and the CFO and COO left the company, with the CEO relocating to Singapore, Yicai said.
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