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Xi tea has been exposed to internal layoffs have been launched, involving 30% of the staff

Xi tea has been exposed to internal has started layoffs, involving 30% of the staff

Xi tea has been exposed to internal has started layoffs, involving 30% of the staff, Xi tea internal is being implemented big layoffs, and said that before the year has been initiated layoffs, and there are also news that the information security department of the Xi tea has been cut all the Xi tea has been exposed to internal has started layoffs, involving 30% of the staff.

Xi tea has been exposed to internal has launched layoffs, involving 30% of employees1

Just now, Xi tea has been exposed to launch layoffs, involving 30% of employees! Excessive overtime, delayed year-end awards, company infighting and other problems have centered on the outbreak, making employees unusually negative.

In addition to Xicha, Nexue also suffered a stock price cut, listing half a year loss of more than 100 million! What happened to the new tea drinks?

Hi tea big layoffs?

February 9, according to Sina reported that the internal layoffs are being implemented. After confirming with a number of Xi tea employees, the main information includes: internal layoffs have been initiated before the year, after the year will also cut a part of the overall involving 30% of the staff.

Some employees said that all employees do not have a year-end bonus, while others said "delayed release". The information security department was completely cut, and the store development department was cut by 50%.

On the morning of February 9, the layoffs of Xicha hit the microblogging hot search, and for a while, netizens were talking about it.

"All the way to inflate too fast, always have to go back to the normal level ."

"The field is a big, there is a struggle, how high the quality of the official field ah, there are ganging up, the situation business."

"Crazy expansion, good and bad."

Hei Tea response: the news is not true, the year-end awards have been issued

According to the Phoenix Technology Report, there is a Hei Tea related person in charge of the said rumors are untrue information, the company does not exist in the case of large layoffs, a small number of personnel adjustments before the year-end assessment based on the normal personnel adjustments and optimization. The company also said that the staff's year-end bonus has been based on the performance of the performance of the Spring Festival before the normal distribution to the hands of employees.

According to previous reports, a number of Xi-cha employees revealed that Xi-cha internal layoffs have been initiated before the year, and will continue to cut after the year, involving 30% of the staff, and employees said that all employees have no year-end awards, the information security department all cut, the store expansion department was cut 50%.

According to the official response, this information is not accurate. However, netizens are not satisfied with this response, that the tea "ambiguous", and did not "explain clearly". Perhaps, the tea can give a more detailed statement.

Enterprise search APP shows that the tea is a white-collar class, young forces as the mainstream consumer groups, leisure, drinks as the main products of the franchising chain, its affiliates Shenzhen Meixi West Food and Beverage Management Company Limited was established in 2016, the legal representative of Nie Yunchen, with a registered capital of 10 million yuan, the scope of business includes: hot and cold drinks, snacks, desserts, cake production and sale; books, newspapers, periodicals retail, etc., 100% owned by Xicha (Shenzhen) Enterprise Management Limited Liability Company.

Enterprise search information shows that the tea has been financed 5 rounds of investment, including the Mission Dragon Pearl, Tencent Investment, Sequoia Fund, the company controls 34 companies, provinces and regions involved in Guangdong, Shandong, Zhejiang, Hubei, Shanghai and so on.

Hei Cha was exposed to ganging up among executives

According to Sina Finance, at the end of 2021, the news of Hei Cha's sudden layoffs spread within the company, and some of the departments have been silently cut. On Pulse, the relevant discussion has been launched, and the internal circle of colleagues has also confirmed the matter .

At present, most of the employees of Xicha are in a state of "lying down" and waiting to see what happens. This large-scale layoffs, so that the excessive overtime, delayed year-end awards, company infighting and other issues focused on the outbreak of Xicha, making the staff unusually negative.

"A lot of people are looking forward to being laid off, at least they can get N+1 compensation, and the old employees don't have much to look forward to," said a veteran Hi-Tea employee. "They are all fighting to be laid off, ah, the quota is not enough to share. Now every day swinging, afraid that others do not know that I want to be laid off." Pulse on the anonymous reply of a happy tea employees also confirmed the employees "laying flat" mentality.

Another Xi-tea employee revealed that the entry commitment to the 3-month year-end bonus, to hear that the award was canceled, its company credibility of the Xi-tea questioned.

In fact, like many young new consumer companies, hi tea has been exposed by employees to internal management chaos, infighting is obvious, the system is not clear and other issues.

Shen Mingzhe (a pseudonym), who has already left the company, is a longtime employee of Xijia, and he doesn't dare to publicly disclose his actual length of service for fear of being held accountable by his supervisor.

According to him, "the layoffs, partly as a result of the struggle. Xicha's executive team, rarely pending enough two years, generally more than a year to go, some half a year to be fired. Executives ganging up on each other is very obvious. Before the executives are Tencent, the internal team are replaced by Tencent out of the people; before that, are the people out of the Vipshop".

If the employee belongs to the category of executive faction, even if the touch fish, will get a good performance appraisal. Such internal management makes a lot of employees can not eat, so hi tea internal staff turnover is very large, do full two years of people are very few.

Pre-loss of more than 100 million!

Listed for more than half a year, Naixue's tea shares have been cut

On February 8, the new-style tea drink company Naixue's tea (02150.HK) issued a profit warning, expected to end December 31, 2021, the Group achieved revenue of about 4.28 billion yuan - 4.32 billion yuan, an increase of more than 40% year-on-year. billion yuan, a year-on-year increase of more than 40 percent, and an adjusted net loss (non-IFRS measure) of about 135 million yuan - 165 million yuan.

In the second half of last year, the epidemic repeated in mainland China, many government departments have strengthened the public **** health control measures, Nachel's Tea quite a number of tea stores were affected by the suspension of stores, reduce business hours or switch to "only delivery or pick up at the store" mode of operation.

The announcement pointed out that in January 2022, the same-store revenue of Naishue's tea stores maintained the recovery trend, which the company attributed to the "alleviation of the Xin Guan epidemic in mainland China", in which the Naishue's tea store in Xi'an has fully resumed business. In addition, Nachel's Tea believes that the general popularity of its new products with consumers has also had a positive impact on the Group's business performance.

On June 30 last year, Nexue's tea was officially listed on the Hong Kong Stock Exchange, becoming the "first share of new tea drinks". According to the prospectus, from 2018 to 2020, Nexue's tea revenue was 1.087 billion yuan, 2.502 billion yuan and 3.057 billion yuan, and adjusted net profit was -56.6 million yuan, -11.7 million yuan and 16.64 million yuan.

The once favored new tea drink market has suffered greatly under the impact of the epidemic. Some data show that in 2021, the national number of milk tea stores live more than 1 year only 18.8%, nearly 80% of the new brand tea drink store closure. As a "new tea drink first share", as of the close of business on February 8, Nexue's tea share price of 7.10 Hong Kong dollars / shares, compared with the issue price has fallen more than 60%.

The impact of the epidemic superimposed on the frequent occurrence of quality and safety issues, in the past two years, many of the new tea drink brand days are not good. Previously, the tea color also began to expose the news of the closure of stores and pay cuts. Neshe's tea will focus on digitalization, and hope to become a new breakthrough in the new tea drink industry.

According to Naixue's tea founder Peng Xin previously revealed that from the beginning of 2020, Naixue landed in phases of digitalization tactics, accelerating the integration of online and offline through small program ordering, third-party takeaway platforms, WeChat Mall, live broadcasting, Tmall flagship store and other online channels, which to a certain extent alleviates the pressure on the operation of the store. The company's financial report shows that in the first half of 2021, the proportion of Nexue's tea online revenue has reached 72.2%.

At the same time, Naixue's tea has embarked on self-research of digital operation systems and automation equipment since 2018, hoping to use this to optimize the standard process of tea drink production, and to realize the automatic ordering of raw materials for replenishment, automatic employee scheduling, and so on. According to the previous announcement disclosure, Naixue's self-research automated tea-making equipment has been put into trial at the end of last year one after another in the operation of some stores idle, and is expected to be formally applied in the national Naixue's Tea tea beverage stores by the end of the third quarter of this year. Naixue expects that the investment of automated equipment and measures will reduce the Group's labor costs and reduce the rigidity of labor costs.

Xi tea has been exposed to internal layoffs have been initiated, involving 30% of the staff2

February 9, Sina Finance reported that the Xi tea internal implementation of large layoffs, and said that before the year has been initiated layoffs, and after the year will be cut a part of the overall 30% of the staff involved. There is also news that the information security department of the tea has been completely cut, store expansion department was cut 50%. The report also reveals that some Xicha employees said that all employees have no year-end bonus, or were "postponed".

However, this was quickly denied by the company.

"The rumors are false information, there is no such thing as layoffs, a small number of personnel adjustments before the year-end assessment based on the normal staff adjustment and optimization." On the same day, the relevant person in charge of the Xicha said to the Times reporter, the employees' year-end awards have also been based on performance performance, before the Spring Festival normal distribution to the hands of employees.

At present, the topic of "Xi-cha will lay off 30% of the staff" has rushed to the microblogging hot search. "The boom is over, the young people are sweet and tired", a time when the rumors of layoffs in Xicha caused a hot debate.

Caught in the layoff storm

The rumors of layoffs at Xijia are not empty.

Sina Finance reported that at the end of 2021, the news of layoffs at Xi-Tea had already spread internally, and some departments were silently cut. The annual meeting became the last straw that overwhelmed the hopes of many employees.

"No meals, few benefits, 10 pm forced everyone to stay and attend until 12 midnight. The annual meeting live screen, wage increases, year-end awards and other messages spread all over the screen." The above report, a hi tea employees revealed.

On the workplace communication platform Pulse, some Xi Cha employees anonymously confirmed and discussed the layoff storm.

A person certified as an employee of Xi-tea revealed that Xi-tea layoffs are not rumors, but real layoffs, layoffs of more than 50% of their own departments, some colleagues just entered the company a month.

Another Xi-tea employees said, less than half a year into the transfer, the end of the year also rated excellent performance, the results of the company's poor performance as a reason to a large number of layoffs, the entire department cut in half. "Only a short time into the job, the compensation is not much, it is better to tell me earlier, their own jump ship." The above employees said.

From the social platform, some employees also have a change of heart. An anonymous hi tea employees in pulse to the Times reporter, "most people want to take layoff compensation is true." Another anonymous Xi tea employee said on Pulse, "Everyone is competing to be laid off ah, the quota is not enough to share. Now I'm 'swinging for the fences' every day, for fear that people don't know that I want to be laid off."

A significant portion of the internal staff of Xicha revealed online that more than layoffs and delayed year-end awards, Xicha's problems of excessive overtime and infighting at the top of the company are depleting employee motivation.

Sina Finance reports also revealed that some employees left the company voluntarily due to pressure. "The pressure was so great that they finally decided to change careers. "2021 Since then, there have been a number of food safety issues at Xi-Tea, and hygiene inspections within the company have become increasingly stringent.

Store expansion, investment spared

The layoffs storm, the spearhead of the media pointed directly to the pressure of the operation of the Xi-cha, but in 2022 before the Lunar New Year, the Xi-cha had taken the lead in the industry, "retrograde" price cuts.

Into 2022, Tea Budao, a little bit, Yiho Tang, Tea Yan Yue color and other tea drink brands have joined the price queue. Among them, previously caught in the closed store storm and pay cut controversy tea YanYueSe, almost most of the products up 1 yuan.

At the same time as the peers have increased prices, in January this year, the tea but quietly adjusted the price of the product, will be part of the drinks and ingredients such as ZhiZhiMangMang, pure green YeYan, as well as cheese, the price reduction of 3 to 5 yuan, and said, "belong to the normal adjustment of the action."

Xicha's price cut triggered the industry's appreciation, most analysts say, based on Xicha's self-built supply chain advantages, can realize the quality of raw materials and cost control.

Development for many years, regardless of the scale or share, hi tea has grown into the head of the new tea drink brand. Public information shows that as of December 31, 2020, Xi Cha has opened 695 stores in 61 cities around the world, and the total number of employees around the world is more than 15,000 people.

In July 2021, it was revealed by the media that Xi-cha had completed a $500 million D round of financing, with a valuation of 60 billion yuan. Since its inception, the capital-favored Xicha has been constantly rumored to be on the verge of an IPO.2021 In August 2021, according to Connect Insight, Xicha may choose to go public in Hong Kong in 2022, with a target valuation of 150 billion Hong Kong dollars (equivalent to about 120 billion yuan).

But the development of Xi Cha stores seems to have fallen into a trace of fatigue. Jiuqian consulting center stage data show that since July 2021, hi tea in the national ping efficiency and average store revenue began to decline. In October 2021, the average revenue and sales ping efficiency of Xi tea stores slipped by 19% and 18% compared with July; compared with the same period in 2020, both slipped by as much as 30% or more.

Xi-tea in the store investment is still sparing no effort. 2021 since, Xi-tea successively in Beijing, Shanghai, Xi'an, Shenzhen and many other cities to open stores focusing on the concept of space, only in September-October 2021, Xi-tea has launched more than five new concept stores. Among them, Xi Cha has launched the world's first hand-made store in Shenzhen's Nantou Ancient City, with three floors of space above and below ****.

In addition to this, Xi Cha's investment layout moves frequently. 2021, Xi Cha has taken shares, taking about 5% to 15% of the shares of the coffee brand Seesaw, the wild plant brand YePlant, and 気桃桃, as well as the pre-mixed wine brand WAT. In November of the same year, the new-style juice brand Wild Dew Mountain, a high-profile acquisition by Xi Cha, completed its fifth investment in six months.

Xi Cha was revealed to have initiated internal layoffs involving 30% of its employees.3

"A lot of people are looking forward to being laid off, or at least getting N+1 compensation."

On February 9, Hei Tea was exposed to large-scale layoffs involving 30% of the staff, with some departments being cut altogether.

Hi-tea responded that the rumors are false information, there is no so-called large-scale layoffs, a small number of personnel adjustments before the year-end assessment based on the normal staff adjustment and optimization.

February 8, "the first share of the new tea drinks" Naixue's tea issued a profit warning, is expected as of December 31, 2021, the Group achieved revenue of about 4.28 billion yuan - 4.32 billion yuan, a year-on-year increase of more than 40%, the adjusted net loss (measured by non-IFRS) about 135 million yuan - 165 million yuan. 165 million dollars.

The new tea drink track, originally favored by the market, seems to be getting tougher and tougher under the multiple pressures of the impact of the epidemic, the industry's implosion, and the frequent emergence of chaos.

Some market participants believe that 2022 will be the "big year" of the new tea drink brand listing, but also the waist and the following brand killing more intense year.

Exposed to layoffs 30% of the annual prize of 188 yuan

February 9, according to Sina Finance reported that the tea internal large-scale layoffs. According to the report, confirmed with a number of Xi tea employees, the overall layoffs involved 30% of the staff. Among them, the information security department all cut, store expansion department was cut 50%; the laid-off employees will get the normal N +1 compensation, but also can choose to internal transfer to other departments, such as technical post to business post.

In response to the news of layoffs, Hi-Tea responded that the rumors are false information, the company does not exist in the so-called layoffs, a small number of personnel adjustments before the year-end assessment based on the normal staff adjustment and optimization. At the same time, the employees' year-end bonus has been based on the performance of the performance, before the Spring Festival normal issued to the hands of employees.

However, in the workplace social networking platform Pulse, the topic of "Xicha layoffs" was once on the hot search list, with a discussion heat of more than 10.48 million.

Pulse APP hot search list Figure / Pulse

A Xicha employee said that his business support department was all laid off. Another internal employee said that his group was optimized by 30%, and the news of not issuing year-end bonuses was only passed on verbally by the team leader at the beginning, and there was no official document notification, but so far there are still some employees who have not received their year-end bonuses.

It is worth noting that two years ago, on the topic of "Xicha year-end bonus" also caused discussion on the pulse. A happy tea programmer said, HR verbal commitment to 13-15 salary, the bottom 13 salary, but in the entry contract written only 12 salary. 2020, the programmer's year-end bonus for 0.8 months of salary, is its "work for five years to get the lowest year-end bonus".

In addition, some Xi Cha employees said that in Xi Cha's 2022 annual global online live broadcast, there is a limited time to open the live broadcast red packets, the highest amount of 188 yuan, the lowest 8.8 yuan.

The news of large-scale layoffs and delayed year-end awards has made the excessive overtime, company infighting, and management chaos at Xi-Tea also focus on the outbreak of problems, and many employees are also in a negative mood.

Some employees even said, "Many people are looking forward to being laid off, at least they can get N+1 compensation.

Gathering star capital or preparing for listing

Xicha was founded by founder Nie Yunchen in Jiangmen City, Guangdong Province, China. 2012, Xicha originated from an alley named Jiangbianli. The company's first tea drink was a cup of original cheese tea, which opened a new era of tea drinks.

The official website shows that as of February 9, 2022, Xi-Tea has 896 stores in more than 55 cities in mainland China, Hong Kong, China and Singapore.

For the reason of this large-scale layoffs, some employees believe that last year's poor performance, downsizing labor costs. Jiuqian consulting center stage data show that from July 2021, hi tea in the national ping efficiency and store average revenue began to decline. In October 2021 data, for example, the average store revenue and sales ping efficiency fell 19% and 18% compared with July; compared with the same period last year fell 35% and 32%.

An industry insider close to the senior management of Xicha analyzed that the layoffs of Xicha may also be a preparation for the earnings data before the listing.

In mid-2021, "the first share of new-style tea drinks" Nexue's tea listing. In the same timeframe, Xicha completed $500 million in Series D financing, and its post-investment valuation skyrocketed to 60 billion yuan from 16 billion yuan in the previous round.

But Naixue's tea listed on the first day of bankruptcy, became the front lesson of the tea. Although founder Nie Yunchen said that there is no listing plan in 2021, the market is still rumored that Xicha may seek a Hong Kong listing in 2022 at a valuation of about 150 billion yuan.

The information shows that after the D round of financing, the valuation of Xi tea has set a new record of financing valuation in the new tea drink market. The investors also have a strong lineup, including Sequoia, Tencent, Black Ant, High Tide, Temasek, etc. 5 rounds of investment completed in 5 years, Xi tea, behind the consumer field has gathered a group of star capital.

Xi tea financing history Figure / panoramic network

market growth slowdown, the leading brands do VC

Interestingly, by the capital of the hot tea, they also do VC. after the completion of the D round of financing, the hi tea accelerated the pace of foreign investment.

In July 2021, Xi Cha took a stake in coffee brand Seesaw, and then invested in oat milk supplier YePlant, pre-mixed wine brand WAT, lemon tea brand Wang Lemon, peach-flavored tea drinks and 気桃桃, and freshly extracted juice brand Nosuizhan. Recently, the eye of the sky APP shows that Xi-tea and shares in Su Ge fresh tea.

It is reported that the founder Nie Yunchen personal investment and KUDDO COFFEE, The Raven raven coffee and other beverage brands.

The 2021 New Tea Drinks Research Report released by the China Chain Store Management Association shows that the size of China's new tea drinks market revenue grew from 42.2 billion yuan to 83.1 billion yuan in 2017-2020, and is expected to reach 142.8 billion yuan in 2023. However, in the next 2-3 years, the growth rate of new tea drinks is slowing down in stages, adjusting to 10%-15%.

Xicha's own expansion is also slowing down. China's catering industry database narrow door dining eye data show that the store growth rate of Xi tea in 2019 and 2020 is 139% and 78% respectively, while in 2021, the store growth rate fell to 26.3%.

Absorption of brands in different segments of the track, to make up for their own business gaps, or also become a way of self-help under the slowdown in market growth. In addition to Xicha, other head brands have also pondered the possibility of external expansion.

For example, in July 2021, Tea Face announced that it had invested in the same Changsha local netflix tea drink brand "Fruit Yaya"; in October 2021, Honey Ice City invested in a Guangdong milk tea store called "Huicha".

Pre-loss of more than 100 million Naixue's tea shares cut

February 8, "the first share of the new tea drinks" Naixue's tea issued a profit warning, is expected to be as of December 31, 2021, the Group achieved revenue of about 4.28 billion yuan - 4.32 billion yuan, a year-on-year increase of more than 40%, after the Group's revenue of about 4.28 billion yuan - 4.32 billion yuan, a year-on-year increase of more than 40%. The year-on-year growth of more than 40%, adjusted net loss (non-IFRS measure) of about 135 million yuan -165 million yuan.

Nexue's tea has also been plagued by losses. The prospectus shows that in 2018-2020, Naixue's tea revenue will be 1.087 billion yuan, 2.502 billion yuan and 3.057 billion yuan, respectively, and adjusted net profit will be -56.6 million yuan, -11.7 million yuan and 16.64 million yuan.

Naixue's tea said in yesterday's announcement, in January 2022, the same-store revenue of tea beverage stores to maintain the recovery trend, the new crown outbreak in mainland China has eased, in which the Naixue's tea tea beverage stores located in Xi'an has fully resumed business. Nexue's Tea believes that the general popularity of new products among consumers has also had a positive impact on the Group's business performance.

But on the other hand, as the "new tea drinks first stock", Nexue's tea listing half a year stock price has been cut. As of the close of business on February 9, the share price of Nexue's tea was HK$7.13/share, a drop of more than 60% compared to the issue price.

Since the listing of Naishue's tea share price trend Figure / Wind

The former Naishue's tea was exposed to food safety issues, after the tea YanYueShi "infighting" and large-scale closure of stores. Under the frequent emergence of chaos and multiple pressures, the new tea drink market seems to be more and more difficult to go by the capital.

Some market participants believe that 2022 will be a new tea drink brand listed on the "big year", will also be the waist and the following brand killing more intense year. When will the tea be listed? When will Naixue be profitable? Tea face how to rationalize internal? Become a new tea drink brands in 2022 **** the same problem.