Mass layoffs at Chinese white-goods maker Midea; followed by more layoffs

Midea Said to Have Plans for More Cuts

Midea Air-conditioning & Refrigeration Group, one of China's white goods manufacturers, is gearing up for another round of layoffs, according to an inside source. The company has already asked 30 to 40 percent of one sales division unit to leave, said a representative from the unit, adding that there are plans for heavy cuts to the budgets of sales offices.

The article goes on to say the company is shifting from a focus on expansion only, to a balanced focus on profitability and expansion. In other words, growth is slowing.