Bitmain lays off AI business into hardest hit area

Recently, a person familiar with the matter confirmed to the reporter of the Science and Technology Board Daily that following the layoffs in early 2019, Bitmain will start the staff optimization plan at the end of 2019. At present, the company is operating normally and the cash flow is healthy, but bitcoin is halved in May. The company needs to streamline the organization and "focus on the main business" at the same time, and correct the "expanded business expansion and free use of funds" of the former chairman Zhan Ketuo, especially The Zanke Group's AI business will become the focus of optimization because it cannot generate profit. According to reports, Wu Jihan presided over a related meeting last weekend and asked all department managers to submit an optimization list. It is expected that the optimization plan will be completed before the annual meeting on January 17. There are currently more than 1,000 people in Bitmain. Compared with the 100-person scale of rival Shenma Mining Machine, there are certain redundancy.