SHENZHEN (BLOOMBERG) – Smartphone maker Oppo is cutting around 20 per cent of staff in key software and device teams after it merged operations with affiliate OnePlus, the first major consolidation in a Chinese mobile industry struggling with chip shortages and Covid-19-triggered economic shocks. Oppo, which in 2016 became the country’s top-selling brand, is retrenching after expanding too rapidly on the hiring front in recent years and attacking a premium segment dominated by Apple, sources familiar with the matter said. The cuts affect important units including a team that customises Android into its in-house ColorOS, and an Internet of Things…