The company has implemented several disciplinary actions against its leadership. General Manager Zhou Xiaoping will have her salary docked for one year, while Deputy General Manager Li Shujun will see a six-month salary cut and a change in duties. HR Director Yu Zhiming has been dismissed, and the HR Department Head Li Mei has been demoted.
Financial compensation for the affected graduates includes a three-month job search allowance of 5,000 CNY per month per person. The company also reimbursed travel expenses and provided free accommodation. For those who remain unemployed after three months, an additional six-month salary compensation will be provided.
The layoffs affected 107 graduates, consisting of 75 bachelor's degree holders and 32 master's degree holders. The group included 39 R&D technical staff, 60 production manufacturing staff, and 8 functional staff. These employees were part of a group of 372 who officially joined the company after signing agreements with 440 graduates.
To prevent future occurrences, Xingyu has established the 'Xingyu Youth Growth Fund' to support new employees' skill training, education, and professional certification. Additionally, the company will introduce third-party professional agencies to conduct regular evaluations of its HR management and publish the results publicly.
