Alibaba-backed Meizu to cut 5% of workers

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HONG KONG: Meizu Technology Corp, the Chinese smartphone maker backed by Alibaba Group Holding Ltd, is planning to cut as much as 5% of its roughly 4,000 staff to strengthen its performance as industry growth cools.

Meizu planned to trim as many as 200 people from its workforce by mid-February and would cap headcount growth at under 10% this year, Li Nan, a spokesman for the company, said.