Nio considers further job cuts after 10% reduction in staff, Bloomberg reports

Nio is weighing further job cuts after the company announced plans to cut 10% of its workforce last month, Bloomberg reports. According to people familiar with the matter, some departments were asked to prepare reserve lay off lists, which may widen the original dismissals to 20% to 30% within the unit. Cuts would mainly impact non-core businesses or those requiring heavy investment that won’t generate quick returns, the people said, adding that central parts of Nio‘s business are still hiring.