Why did Wanda lay off a large number of employees?

1. Under the background of strict policy controls on the development of real estate e-commerce in the past two years, many business operations will be restricted. At the same time, it also shows that Wanda Group expanded blindly in the past and now needs to control costs through layoffs.

2. In terms of Wanda Network Technology's overall revenue, only the financial sector is slightly profitable, while other sectors are in a state of loss, resulting in Network Technology's overall business losses.

3. Currently, bank lending is decreasing. For Wanda, it is necessary to reduce losses and compress various “money-burning” businesses. At present, the Internet business is obviously "burning money", and there is no profit, so it will be cut off first.

Extended information:

1. Dalian Wanda Group Co., Ltd. was founded in 1988 and has formed four major industrial groups: commerce, culture, real estate, and finance. In 2017, it ranked among the Fortune 380 in the Fortune Global 500. In 2017, the company's assets were 700 billion yuan and revenue was 227.3 billion yuan.

2. Wanda Commercial holds a property area of ??33.87 million square meters, and has opened 207 Wanda Plazas in Beijing CBD, Shanghai Wujiaochang, Chengdu Jinniu, and Kunming Xishan. 4 Wanda Cultural Group’s revenue in the first half of 2017 was 30.8 billion yuan.

3. Wanda Network Technology Group is a large-scale industrial + Internet open platform company. It owns Feifan Information, Kuaiqian Payment, credit reporting, online credit, big data and other companies. It uses big data, cloud computing, Technologies such as artificial intelligence and scene applications realize digital upgrades for physical industries and provide consumers with new consumer services in their daily lives.

4. Wanda Financial Group owns investment, asset management, insurance and other companies, and will achieve full financial license operations in the future. Dalian Wanda Group Co., Ltd.'s revenue in 2013 was 186.6 billion yuan, an increase of 30% for eight consecutive years.

Reference: Baidu Encyclopedia_Dalian Wanda Group Co., Ltd.