Jia Yueting, co-founder and head of Le Holdings Co Ltd, also known as LeEco and formerly as LeTV, poses for a photo in front of a logo of his company after a Reuters interview at LeEco headquarters in Beijing, China, picture taken April 22, 2016. REUTERS/Jason Lee
BEIJING/SHANGHAI: The sports unit of Chinese technology giant LeEco will cut 10% of its staff and restructure its business after the parent firm's billionaire chief executive flagged concerns over spiralling debt and corporate overextension last month.
A company spokeswoman said the cuts would be made at various departments inside LeEco's sports unit, LeSports. The firm focuses on events operation and content streaming, and employs around 1,000 people. LeEco overall employs many thousands more.
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