Excellent network layoffs nearly 60% of China’s Linkedn go from here



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According to

Ushi (ushi.com) an unnamed former employees broke, known as the Chinese version of LinkedIn Ushi due to poor operation and management turmoil, financing and other issues, see profit pressure in the investor’s needs, has nearly six members to work in the past 3 months cut. The total number of employees from more than and 60 down to less than 20 people.

Ushi on-line since 2010, has been the first to China networking sites and social networking sites of high quality occupation boasted, received a $7 million round of financing, the main investors in the parent company of Meidifu group (Meta4 Group), the investment community more prestigious angel investors and building cloud Gerson Lehrman Group (GLG). In the past two years in operation, seemingly good Ushi, but there have been all kinds of crisis, the number of registered users and most users die stagnation, evaluation of the parties is not ideal, even unable to pay the wages owed to employees, suppliers etc..

according to the former Ushi staff broke the news, the company had tried to obtain $10 million in financing to a well-known Japanese talent service company in 2012, after several rounds of talks after the end did not give each other investment intentions, the Ushi financial crisis, the company operating the red light. In the short term deficit of all resources, since the beginning of July to pay staff salaries, and began to lay off at the end of August until the beginning of September, Ushi got before investors maidun investment house, Li and GLG investment of $2 million, but such a small investment, but also in such a high priced talent era, how long


the staff also pointed out that the real reason for this crisis is the management of the company’s mismanagement and the market do not understand. As co-founder, has now left the former YAHOO China Product Manager Zhang Yue, office of excellence network CPO, responsible for product design and development. CPO for the market is extremely inaccurate speculation, so that the development of the product can not get user stickiness. In particular, the group and the activities of the channel, completely inconsistent with the habits of Chinese high-end Internet users, has long been unable to get the user’s real concern and use.

initially worked in a Canadian investment bank CEO Dominic Penaloza Philippines also lack of standards in the management, the excessive power release CPO a monthly, and the people used to control is not in place, excessive trust personnel director Ding Xiang, the chief executive of the company as a judge has been wavering, incorrect use of "short-lived" by Wang Junjie CMO all the resentment, the shaky position in the company.

according to reports, there have been problems in the use of staff, due to management oversight, a >

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