LeEco Cuts 60 Jobs In Hong Kong

2 min readUpdated May 15, 2025Dec 29, 201610:00 AM

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LeEco may be one of the best-known Chinese smartphone vendors globally after Lenovo, Huawei and Xiaomi, but the company has been in severe financial stress in recent times. The Beijing-based firm recently ventured out of China to establish a global footprint, and towards that end, have entered quite a few new markets over the past couple of years, including India and the U.S.

However, even as LeEco was marching ahead with its global ambitions, its holding company, Leishi Internet Information and Technology Corp, was struggling financially, with its shares recently halted from trading at the Shenzhen Stock exchange. LeEco itself has been facing a severe cash crunch, with the company’s CEO, Mr. Jia Yueting, even admitting that the expansion efforts “have gone too far”.

With its finances starting to become a major issue, LeEco was recently rumored to have laid off 1,400 of its employees globally, with the bulk of the job cuts coming in India. While about 200 people at LeEco’s sports video-streaming subsidiary, LeSports, lost their jobs in China as part of an organizational restructuring, almost a thousand LeEco employees were reported to have been laid off in India, mostly in the company’s sales and retail divisions. Reports out of Hong Kong now suggests that the company is also laying off as many as 60 of its employees in its Hong Kong office, although, its existing businesses and membership services will all reportedly continue to function as usual.

Even in the midst of all this doom and gloom, though, there is a glimmer of hope for LeEco if a recent interview by a senior company executive is anything to go by. According to the president of LeEco’s smart TV business, Mr. Liang Jun, the company has received a fresh round of funding from strategic investors, although, he’s refused to give out any specifics about the reported investments until now. Meanwhile, even though the company’s finances are in a mess right now, reports indicate that at least three LeEco devices with model numbers LE X920, LE X850 and LE X622 are all set to be launched in the coming months. Right now, there’s no timeframe for the launch, but it should happen sooner rather than later if everything goes well from here for the struggling company.

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Questions & Answers

What is the reason for the job cuts in LeEco's Hong Kong office?

LeEco has been facing severe financial stress and a cash crunch, with its CEO admitting that global expansion efforts 'have gone too far'. This financial situation is the underlying cause for the job cuts.

Which specific regions or countries have seen significant job reductions at LeEco?

LeEco has laid off employees in India, where almost a thousand workers were reportedly affected, and in China, where 200 people at LeSports lost their jobs. Hong Kong is also experiencing 60 job cuts.

What is the positive news for LeEco amidst its financial difficulties?

According to the president of LeEco’s smart TV business, the company has recently secured a new round of funding from strategic investors. However, no specific details about these investments have been disclosed yet.

Which LeEco divisions or subsidiaries have been most affected by the global layoffs?

The bulk of the job cuts in India were reportedly in LeEco's sales and retail divisions. Additionally, 200 employees at its sports video-streaming subsidiary, LeSports, lost their jobs in China.

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