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Chinese EV Startup Seres Halts US launch, Lays Off 90 People In Silicon Valley

Chinese EV decided to give up 90 people from Seres of Silicon Valley and they have stated that the downgoing automobile market of China as the reason for such laying off from the end of the company.

Reportedly, Seres is the first electric car company of US and according to the report they had near to 300 people working in the Silicon Valley corporate office and manufacturing house. the report of the same from the company management has also stated that the action of the same will be applied within this month only and the company also stated that there is no issue regarding the staffs, like performance related issues or like that. Hence they are bringing package schemes so that the staffs would be paid the remuneration as a compensation of the entire thing.

Unites States is a nation where trade unions are not that much strong. Hence, the US is a state where negotiations will be made on the same, but the company showed a softness and stated that they are opening up the discussion for the staffs.

There are different companies that are going in the same directions now and each of them is putting down lots of staffs, a majority of that is in the automobile section. According to the experts, the situation is going to be even more pitiable with time and the pressure of axing staffs will continue. Is the world prepared or the same – a recession in a particular sector of trade can make real devastation in the business and in the case of employment. What the big nations are doing now? Is this the result of the trade war between the US and China, or the trade war was just the medium to make that happen?

Daniel Schott Subscriber
EDITOR-IN-CHIEF At Global Industry Report

Daniel Schott is a chief editor for our news portal. He has studied electronics and telecommunication engineering and is associated with us from past 5 Years. Daniel is a passionate writer and loves to write the technology-based articles. The readers are inspired by his versatile writing and deep knowledge about technology. He is a true rock star at the workplace and is fun to work with. In leisure time, Daniel likes to do watch movies. He enjoys watching sci-fi movies!

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