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Panda Mobile Sees Further Closures
August 22, 2005 |
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Following the closure of its company in Guangdong, Panda Mobile is now implementing a larger staff reduction across China.
Quoted in local media, a marketing manager from Panda Mobile's Northeast China branch says that most of Panda Mobile's 15 subsidiaries had ceased operating. However those offices in Jiangsu, Zhejiang, Anhui, Xinjiang, Shaanxi and Fujian are still operating.
According to a former regional manager of Panda Mobile, the current sales volume at each of Panda Mobile's branches is just 40% of that of the past.
Panda Mobile's 15 subsidiaries across China have all been registered in the name of "Nanjing Zongheng Communications Equipment Co., Ltd" and "Jiangsu Tianchuang Communications Industry Co., Ltd", both of which share the same boss: Ma Zhiping.
Ma was arrested earlier this year for "economic crimes" after he caused CNY1.87 billion losses for the company.
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