rare! LeEco announced a salary increase for all employees, balancing operating profit and cash flow for the first time in several years

Near the end of the year, some companies announced salary increases. On December 21, Nandu reporters learned from LeTV that on the same day, LeTV's human resources department issued an internal letter saying that after the Spring Festival next year, all employees at the time of the epidemic last year will resume salary cuts and subsidies.

According to LeTV, since the outbreak of the company's capital crisis to the epidemic last year, in order to reduce costs, the company has not been able to take several layoff measures, and many comrades who have been with them for many years have left. At the beginning of the epidemic in early 2020, the company had to reduce the salary of all employees and stop issuing various subsidies, with a salary reduction of nearly 10%.

For the difficulties in recent years, LeTV said that in the past 5 years, the company has been labeled with many negative labels, which has also affected the work and life of employees. For example, "There are personal loans that have been rejected because they work in LeEco, there are people who have attended friends' parties and have been said that your company owes us money, and there are personal threats from extreme suppliers, and it is not strange that friends have ridiculed the founder of the company."

However, Nandu reporter learned that in May 2021, LeTV's intelligent ecology returned to the public eye, in addition to the previous super TVs and smart phones, LeTV has also continuously launched various new categories and new products (such as smart locks, wireless Bluetooth headsets, smart watches, electric toothbrushes, etc.) since the second half of this year.

Previously, LeEco said that the business goal in recent years is to become a company with positive cash flow, breakeven and sustainable development. According to the latest data from LeTV, in November 2021, TV operations, mobile operations, advertising commercialization and other businesses have reached their annual business targets ahead of schedule. "For the first time in the past few years, the latest operating figures have achieved a double balance between operating profit and cash flow, regardless of the impact of historical debt."

In addition, LeTV also said that in the past year, with the gradual stabilization of existing business and the continuous exploration of new business, more than 100 new students have joined us, including some "old LeTV people".

Nandu reporter combed and found that according to LeTV's third quarter 2021 financial report, the salary payable to employees on September 30, 2021 was about 920,000 yuan, while the compensation payable on December 31, 2020 was about 206,000 yuan. In less than a year, the payroll payable has more than quadrupled.

According to the internal letter, LeEco is very confident about the future: looking forward to 2022, we are confident to go to a higher level: in terms of smart hardware, focus on product innovation and user experience, and constantly launch new smart products to provide "a sense of happiness that can be bought" for fans and friends. In terms of video content, it continues to take "classic rather than traffic, literary and artistic rather than kitsch" as the standard, and resonates with the same frequency of the times.

According to LeTV's third quarter 2021 financial report, the company's revenue in the quarter was 0.99 billion yuan, an increase of 23.29% over the same period last year. The net profit attributable to shareholders of the listed company was about 25 million yuan, an increase of 103.76% over the same period last year. From the beginning of the year to the end of the reporting period, the company achieved a total operating income of 296 million yuan, an increase of 33.00% over the same period last year; Net profit attributable to shareholders of listed companies was -162 million yuan, an increase of 82.66% over the same period last year.

Written by: Nandu reporter Kong Xueshao