LeEco cuts 70 percent of US staff in massive retreat
LeEco cuts 70 percent of US staff in massive retreat
The news, which comes just days after Jia Yueting stepped down as the CEO of the publicly listed sister company Leshi, marks a nail in the coffin of the company’s ambition to be the next major US consumer electronics player on par with an Apple or Samsung. LeEco’s sudden rise and equally quick fall is a testament to the difficulty of appealing to fickle US consumers. It’s also a reminder that grand promises to consumers about changing the way they view entertainment mean little if they have no idea who you are.

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