On November 3rd, a reporter from Shell Finance learned that Li Bin, the founder, chairman, and CEO of NIO Automobile, issued a full staff letter stating that the company will reduce its positions by about 10%, and the specific adjustments will be completed in November.
Li Bin stated in the letter that after analysis and discussion over the past two months, as well as the development of plans over the past two weeks, the company has now focused its business and planning on the following aspects: ensuring long-term investment in core key technologies and maintaining leading advantages in technology and products; Ensure sales and service capabilities are able to cope with fierce market competition; Ensure the timely launch of 9 core products from 3 brands; Improve organizational efficiency, merge duplicate departments and positions, change inefficient internal workflow and division of labor, and eliminate inefficient positions; Resource efficiency improvement, delaying and reducing project investments that cannot improve the company's financial performance within 3 years.
According to the 2022 annual report, NIO has 26800 employees and paid over 11.2 billion yuan in employee compensation