According to the latest reports from Smartnews layoffs , the company is set to lay off 40% of its US and China staff in an effort to reduce costs. The company has also announced that it will be cutting jobs in Japan as market conditions there remain challenging.
SmartNews to Cut 40 of US and China Staff
SmartNews, a Japanese-owned news aggregator, is planning to cut 40% of its staff in the United States and China as the company looks to streamline its operations and focus on profitability. The company, which is headquartered in Tokyo, has been struggling to break into the highly competitive U.S. market, and has been hit hard by the coronavirus pandemic.
In an email to staff, SmartNews CEO Ken Suzuki said that the company would be cutting 40% of its workforce in the United States and China, and that more layoffs were planned in Japan as market conditions remained challenging. Suzuki said that the company would be focusing its resources on its core markets in Japan and South Korea, where it has a strong presence.
SmartNews has raised over $100 million from investors, including SoftBank, and was valued at $1.1 billion in 2018. The company has been aggressive in its expansion plans, and has been looking to grow its user base in the United States. However, it has been difficult to compete against the likes of Facebook and Google, which dominate the digital advertising market.
The coronavirus pandemic has exacerbated the challenges faced by SmartNews, as advertising revenue has dried up. The company has been forced to cut costs, and has already laid off 30% of its staff in Japan. The latest round of layoffs will further reduce the company’s headcount.
Despite the challenges, Suzuki said that SmartNews was committed to its expansion plans and would continue to invest in its product and technology. He said that the company would focus on becoming profitable in the long term, and that it would continue to seek opportunities to grow in the United States and other markets.
More Layoffs Planned in Japan as Market Conditions Remain Challenging
SmartNews, a Japanese technology company, is planning to lay off a significant portion of its staff in the United States and China. The company is also considering additional layoffs in Japan, where it has been struggling to compete against larger rivals.
According to a report in The Japan Times, SmartNews is planning to cut 40% of its staff in the US and China, and is also considering layoffs in Japan. The company has been struggling to compete against larger rivals in Japan, and has been losing market share.
SmartNews is a Japanese technology company that provides a mobile app that delivers news articles from a variety of sources. The company was founded in 2012, and has raised over $100 million in funding from investors including SoftBank, Sequoia Capital, and News Corp.
The company has been struggling to compete against larger rivals in Japan, and has been losing market share. In September, SmartNews announced that it was cutting 30% of its staff in Japan.
The company is now planning to cut a further 40% of its staff in the US and China, and is also considering layoffs in Japan. The company has been struggling to compete against larger rivals in Japan, and has been losing market share.
SmartNews is not the only Japanese technology company that is struggling in the current market conditions. In October, Line, another Japanese tech company, announced that it was cutting 10% of its global workforce.
SmartNews Continues to Face Challenges in the US and China
It’s been a tough few years for SmartNews.
The Japanese news aggregator has been struggling to make a profit, and things came to a head in 2019 when the company announced it was cutting 40% of its staff in the US and China.
Now, it looks like more layoffs are on the horizon, as the company plans to reduce its workforce in Japan by 10%.
This comes as no surprise, given the current state of the media industry. Advertising revenues are down, and many publishers are struggling to stay afloat.
It’s a tough time for everyone, but it’s especially difficult for a company like SmartNews, which is still relatively new to the US market.
The company has been trying to find its footing in the US for the past few years, and it’s been an uphill battle.
SmartNews faces a number of challenges in the US, including a lack of brand recognition and a small user base.
It’s also up against some stiff competition, including Facebook, Google, and Apple News.
To make matters worse, the US is not a particularly friendly market for news aggregators.
The country has a long history of news media consolidation, and there are very few successful aggregators.
In China, meanwhile, SmartNews is up against a different set of challenges.
The Chinese market is extremely competitive, and the company has been trying to gain traction there for several years.
So far, it’s been an uphill battle, and it’s unclear if the company will ever be able to turn a profit in China.
For now, it seems like SmartNews will continue to face challenges in both the US and China.
It’s a tough time for the company, but it’s not giving up just yet.
SmartNews Plans More Layoffs in Japan
It’s been a tough year for SmartNews.
The company has already laid off 20% of its workforce in the United States and China, and now it’s planning more layoffs in Japan.
According to a report in The Wall Street Journal, SmartNews is planning to cut 40% of its staff in Japan, where it has been struggling to gain traction.
The company has been hit hard by the pandemic, with advertising revenues plummeting.
It’s not clear how many jobs will be cut in Japan, but the Journal says the cuts are expected to be announced “in the coming weeks”.
Smartnews layoffs has raised over $340 million from investors, but it remains to be seen if it can turn things around in the current climate.