NEW SP POLICY RESULTS IN HEADCOUNT REDUCTION OF KONGZHONG
AsiaInfo Services, August, 2006
AsiaInfo Services 08-03-2006 New SP Policy Results in Headcount Reduction of KongZhong BEIJING, Aug 03, 2006 (SinoCast via COMTEX) -- KongZhong Corporation (Kongzhong), the No.1 wireless value-added service cooperator of the largest Chinese mobile communication carrier China Mobile, recently made an announcement on cutting off 15% of its employees due to the execution of China Mobile's new service provider (SP) policy. By the end of June, Kongzhong had 1,000 staffs.
The 15% of headcount reduction means that about 150 persons will leave the company. But the value-added service provider stressed it still have over USD 100 million of cash reserves to support its development in the future. An service provider said frankly that it was a chain reaction of the...
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