Monday, 2024 February 26

CHINA BRIEF | Didi president Jean Liu says company has bounced back from coronavirus, with no plans to cut employees

Jean Liu, president of Chinese ride-hailing giant Didi Chuxing, said Thursday during an interview with CNBC that the company’s core ride-hailing business is profitable, without disclosing specific numbers.

Liu said Didi’s ride volume in China has bounced back to 60% to 70% of pre-coronavirus levels and is five times its February low, as the country has largely lifted movement restrictions.

“We have a very strong balance sheet,” Liu said, adding that the company has no plan for layoffs or fundraising, while US counterparts Uber and Lyft both announced plans for dismissals and furloughs due to the coronavirus.

This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.

Wency Chen
Wency Chen
Wency Chen is a reporter KrASIA based in Beijing, covering tech innovations in&beyond the Greater China Area. Previously, she studied at Columbia Journalism School and reported on art exhibits, New York public school systems, LGBTQ+ rights, and Asian immigrants. She is also an enthusiastic reader, a diehard fan of indie rock and spicy hot pot, as well as a to-be filmmaker (Let’s see).
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