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Meituan Select Undergoes Strategic Transformation & Upgrade, Commits to No Layoffs for Permanent Employees
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After MEITUAN-W (03690.HK) announced a full-fledged expansion into the instant retail business, the company's internal announcement stated that Meituan Select decided to undergo a strategic transformation and upgrade, after research and discussion by the grocery retail management team, Chinese media broke. The company will continue to explore the "next-day delivery + self-pickup" model and new community retail formats, while exiting some loss-making areas to meet consumer demand for quality products and services more efficiently. In its next step, the company will have clear plans and actions to ensure employee protection. Among which, the company promises that all permanent employees of Meituan Select will not be laid off, having completed the business reception plan with the internal grocery unit and is coordinating with other company business units to properly arrange for the relevant employees to new positions, while personal compensation and benefits will remain unaffected. AASTOCKS Financial News Website: www.aastocks.com |
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