China's leading video-streaming platform iQiyi said to lay off up to 40% staff

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iQiyi, one of China's top video-streaming platforms, is said to have started a large-scale layoff, reported several mainland news outlets including Yicai, Sina News and The 21st Century Business Herald on Wednesday.

It's the largest layoff in the company's history, with some departments to be cut entirely and even some profitable departments such as content and smart hardware are also included in the job cut, according to Sina News, citing . . .

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