31% of employees were laid off, and Xicha responded: 31% of employees were laid off because of false information. Xicha responded: On February 9th, Xicha was exposed to large-scale layoffs, involving 31% of employees, and some departments were completely laid off. The new tea track, which was originally optimistic about the market, seems to be getting more and more difficult. It was exposed that 31% of employees were laid off, and Xicha responded that it was false information. It was exposed that 31% of employees were laid off, and Xicha responded: 1
On February 9, Sina Finance reported that Xicha was implementing a large-scale layoffs, and said that layoffs had been started before the year, and some will be laid off after the year, involving 31% of employees in general. It is also reported that the information security department of Xicha has been completely laid off, while the store development department has been laid off by 51%. The report also revealed that employees of Youxi Tea said that all employees had no year-end bonus or were "deferred".
however, the above news was quickly denied by tea lovers.
"All the related rumors are false information. There is no so-called big layoffs in the company. A small number of personnel were adjusted to normal personnel adjustment and optimization based on year-end assessment." On the same day, the relevant person in charge of Xicha told Times Weekly that the year-end awards of employees have also been distributed to employees normally before the Spring Festival according to their performance.
At present, the topic of "Xicha will lay off 31% employees" has rushed to Weibo for hot search. "The craze has passed, and young people are tired of sweetness." For a time, the rumors of layoffs in Xicha sparked heated discussions.
Fall into the storm of layoffs
The rumors of layoffs in Xicha are not groundless.
Sina Finance reported that at the end of 2121, the news of layoffs in Xicha had spread internally, and some departments were silently laid off. The annual meeting became the last straw that overwhelmed the hopes of many employees.
"No food, little welfare, forcing everyone to stay at 11 pm and attending until 12 midnight. On the live screen of the annual meeting, messages such as salary increase and year-end bonus are covered with full screen. " In the above report, employees of Youxi Tea revealed.
On the workplace communication platform, some tea-loving employees anonymously confirmed and discussed the layoffs.
A person certified as an employee of Xicha revealed that the layoffs of Xicha are not rumors, but real layoffs. More than 51% of employees in our department have been laid off, and some colleagues have just joined the company for a month.
Another employee of Xicha said that he had been employed for less than half a year, and his performance was rated as excellent at the end of the year. As a result, the company had to lay off a large number of employees on the grounds of poor performance, and the whole department cut half of them. "I just joined the company soon, and the compensation is not much. It is better to tell me earlier and quit." The above employees said.
from the social platform, some employees' mentality has also changed. An anonymous tea-loving employee revealed to the Times Weekly reporter that "it is true that most people want to take compensation for layoffs." Another anonymous tea-loving employee said in the pulse, "Everyone is vying to be laid off, and the number of places is not enough. Now I'm' rotten' every day, for fear that others will not know that I want to be laid off. "
A considerable number of employees in Xicha revealed on the Internet that not only layoffs, year-end bonus delays, but also problems such as excessive overtime work and infighting at the top of the company are consuming employees' enthusiasm.
Sina Finance also revealed that some employees left their jobs voluntarily under pressure. "I was under too much pressure and finally decided to change careers." Since 2121, Xicha has had many food safety problems, and the company's internal health inspection has become more and more strict.
Store expansion and investment spare no effort
This layoff storm is directed at the operating pressure of Xicha, but before the Lunar New Year in 2122, Xicha took the lead in "retrograde" price reduction in the industry.
In 2122, tea brands such as Chabaidao, Diandian, Yihetang and Modern China Tea Shop will all join the price increase queue. Among them, Modern China Tea Shop, which was caught in the controversy of store closing and salary reduction, almost raised most of its products to 1 yuan.
At the same time that the price of peers has been increasing, in October this year, Xicha silently lowered the price of products, and reduced the price of some drinks and ingredients such as Zhizhi Mangmang, Pure Green Yan and cheese by 3 ~ 5 yuan, calling it "a normal adjustment action."
The price reduction of Xicha has aroused admiration in the industry. Most analysts say that the quality and cost of raw materials can be controlled based on the advantages of Xicha's self-built supply chain.
after years of development, hi-tea has grown into a new brand of tea, regardless of its scale or share. According to public information, as of February 31, 2121, Xicha has opened 695 stores in 61 cities around the world, and the total number of employees worldwide has exceeded 15,111.
in July, 2121, some media revealed that Xicha had completed a $511 million Series D financing with a valuation of 61 billion yuan. Since its establishment, Xicha, which is favored by capital, has been continuously spread to the upcoming IPO. In August 2121, according to wired Insight, Xicha may choose to go public in Hong Kong in 2122, with a target valuation of HK$ 151 billion (equivalent to about RMB 121 billion).
However, the development of Xicha Store seems to be in a state of fatigue. According to the data of Jiuqian Consulting, since July 2121, the efficiency and average store income of Xicha in the whole country have begun to decline. In October, 2121, the average income and sales efficiency of Xicha store decreased by 19% and 18% compared with July. Compared with the same period in 2121, they all fell by more than 31%.
hi tea still spares no effort to invest in the store. Since 2121, Xicha has successively opened stores focusing on the concept of space in many cities such as Beijing, Shanghai, Xi 'an and Shenzhen. In September-October 2121 alone, Xicha has launched more than five new concept stores. Among them, Xicha launched the world's first handmade shop in Nantou Ancient City, Shenzhen, with three floors above and below.
In addition, the investment layout of Xicha moves frequently. In 2121, Xicha successively took shares, and won about 5% ~ 15% of the shares of coffee brand Seesaw, wild plant brand YePlant, Hetao Taotao and pre-mixed wine brand WAT. In October of the same year, Yecuishan, a new fruit juice brand acquired by Xicha, completed its fifth investment in half a year. After being exposed to 31% layoffs, Xicha responded: 2
"Many people are looking forward to being laid off, at least they can get N+1 compensation."
On February 9th, Xicha was exposed to mass layoffs, involving 31% employees, and some departments were completely laid off.
Xicha responded that all the rumors were untrue, and there was no so-called big layoffs in the company. A small number of employees were adjusted to normal personnel adjustment and optimization based on year-end assessment.
On February 8th, Naixue's tea, the "first stock of new tea", issued a profit warning. It is estimated that by February 31th, 2121, the Group will have earned about RMB 4.28 billion-RMB 4.32 billion, with an increase of over 41% year-on-year, and its adjusted net loss (not measured by international financial reporting standards) will be about RMB 35 million-RMB 65 million.
The' New Tea Circuit', which was originally favored by the market, seems to be getting more and more difficult under the multiple pressures of epidemic situation, industry involution and frequent chaos.
some market participants believe that 2122 will be the "big year" for new tea brands to go public, and it will also be a more intense year for brands below the waist.
The annual prize of 31% laid-off workers was 188 yuan
On February 9, according to Sina Finance, Xicha was undergoing large-scale layoffs. According to the report, confirmed by a number of Xicha employees, the overall layoffs involved 31% employees. Among them, the information security department was all laid off, and the store development department was laid off by 51%; The laid-off employees will receive normal N+1 compensation, or they can choose to transfer internally to other departments, such as technical posts to business posts.
In response to the news of layoffs, Xicha responded that all the related rumors were false information, and there was no so-called big layoffs in the company. Before the year, a small number of personnel were adjusted to normal personnel adjustment and optimization based on year-end assessment. At the same time, the year-end bonus of employees has also been distributed to employees normally before the Spring Festival according to their performance.
However, in the workplace social platform, the topic of "tea-loving layoffs" was once on the hot search list, and the discussion heat exceeded 11.48 million.
Pulse APP Hot Search List/Pulse
Yixi Tea employees said that all their business support departments were laid off. Another internal employee said that his team was optimized by 31%, and the news that the year-end bonus was not issued was only verbally transmitted by the team leader at first, and there was no official document notice, but some employees still did not get the year-end bonus.
It's worth noting that the topic of "Tea-loving Year-end Award" in the previous two years has also caused discussion on the pulse. Yixi Tea Programmer said that HR verbally promised 13-15 salary and guaranteed 13 salary, but only 12 salary was written in the employment contract. In 2121, the programmer's year-end bonus is 1.8 months' salary, which is his "lowest year-end bonus after five years' work".
In addition, employees of Youxicha said that in the 2122 annual meeting of global online live broadcast of Xicha, the maximum amount of red packets for live broadcast rooms opened in limited time was RMB 188, and the minimum was 8.8 yuan.
The news of mass layoffs and the delay of the year-end bonus have caused problems such as excessive overtime work, infighting in the company and chaotic management, and many employees are also in negative mood.
Some employees even said that "many people are looking forward to being laid off, and at least they can get N+1 compensation".
Gathering Star Capital or Preparing for Listing
Xicha was founded by its founder Nie Yunchen in Jiangmen City, Guangdong Province. In 2112, hi-tea originated from an alley named Jiangbianli, and a cup of original cheese tea opened a new era of tea drinking.
official website shows that as of February 9, 2122, Xicha has 896 stores in more than 55 cities in China, China, Hongkong and Singapore.
As for the reason of this massive layoffs, some employees think that it was poor performance last year and reduced labor costs. According to Jiuqian Consulting's data from Taiwan, since July 2121, the efficiency and average store income of Xicha have started to decline nationwide. Taking the data of October 2121 as an example, the average store income and sales efficiency decreased by 19% and 18% compared with July. Compared with the same period last year, it fell by 35% and 32%.
according to the analysis of an industry insider close to the top management of Xicha, the layoffs of Xicha may also be to prepare for the financial report data before listing.
In mid-2121, Naixue's tea, the "first new type of tea", went on the market. At the same time, Xicha completed the D round of financing of US$ 511 million, and the post-investment valuation soared from 16 billion yuan in the previous round to 61 billion yuan.
However, Naixue's tea broke on its first day on the market, which became a lesson for tea lovers. Although the founder Nie Yunchen said that there is no listing plan in 2121, the market is still rumored to like tea or seek a listing of Hong Kong stocks at a valuation of about 151 billion yuan in 2122.
according to the data, after the D round of financing, the valuation of Xicha set a new record for the financing valuation of the new tea market. Investors also have a strong lineup, including Sequoia, Tencent, Black Ant, Gaochun and Temasek. Xicha, which has completed five rounds of investment in five years, has gathered a lot of star capital in the consumer field.
Xicha financing history map/panoramic network
Market growth slows down, and the head brand has started VC
Interestingly, Xicha, which is popular with capital, has started VC itself. After completing the D round of financing, Xicha accelerated the pace of foreign investment.
in July, 2121, Xicha took a stake in coffee brand Seesaw, and then successively invested in oat milk supplier YePlant, pre-mixed wine brand WAT, lemon tea brand Wang Ning, peach-flavored tea and Juglans mandshurica, and fresh juice brand Yecuishan. Recently, Tianyancha APP shows that Xicha has also invested in Suge fresh tea.
It is reported that Nie Yunchen, the founder, personally invested in other beverage brands such as KUDDO COFFEE and The Raven Raven Coffee.
According to the Research Report on New Tea in 2121 released by China Chain Store & Franchise Association, the market revenue of new tea in China increased from 42.2 billion yuan to 83 billion yuan from 2117 to 2121, and it is expected to reach 142.8 billion yuan in 2123. However, in the next 2-3 years, the growth rate of new tea will slow down in stages and be adjusted to 11%-15%.
The expansion speed of Xicha itself is also slowing down. According to the data of China catering industry database, the store growth rate of Xicha in 2119 and 2121 was 1.39% and 78% respectively, and in 2121, the store growth rate dropped to 26.3%.
absorbing brands from different segments of the track to make up for their own business gaps, or it has also become a way to save themselves when the market growth slows down. In addition to tea, other head brands have also pondered the possibility of external expansion.
For example, in July 2121, Modern China Tea Shop announced that it would invest in the tea brand "Guoya", which is also a local online celebrity in Changsha. In October 2121, Mi Xue Bing Cheng invested in a tea shop in Guangdong called Huicha.
the share price of tea with a pre-loss of more than 1 billion Naixue was halved
On February 8th, Naixue's tea, the "first stock of new tea", issued a profit warning. It is estimated that by February 31th, 2121, the Group's income will be about 4.28 billion to 4.32 billion yuan, with a pre-increase of over 41% year-on-year, and its adjusted net loss (not measured by international financial reporting standards) will be about 35 million yuan.
Naixue's tea has always been plagued by losses. According to the prospectus, from 2118 to 2121, Naixue's tea revenue was 1.187 billion yuan, 2.512 billion yuan and 3.157 billion yuan respectively, and the adjusted net profit was-56.6 million yuan,-11.7 million yuan and 16.64 million yuan.
Naixue Tea said in yesterday's announcement that in October, 2122, the same-store income of tea shops maintained a recovery trend, and the COVID-19 epidemic in Chinese mainland was alleviated. Among them, Naixue Tea Shop in Xi 'an has completely resumed business. Naixue Tea believes that new products are generally welcomed by consumers and have a positive impact on the business performance of the group.
On the other hand, as the "first share of new tea", the share price of Naixue's tea has been halved for half a year. As of the close of February 9, Naixue's tea share price was reported at HK$ 7.13/share, which has fallen by over 61% compared with the issue price.
Share price trend chart of Naixue's tea since it went on the market /Wind
Before Naixue's tea was exposed to food safety problems, there was a "feud" in Modern China Tea Shop and the store was closed on a large scale. Under the frequent chaos and multiple pressures, the new tea market, which is popular with capital, seems to be getting more and more difficult.
some market participants believe that 2122 will be the "big year" for new tea brands to go public, and it will also be a more intense year for brands below the waist. When will Xicha be on the market? When will Naixue make a profit? How to straighten out the interior of tea face? It will become a problem faced by new tea brands in 2122. It was exposed that 31% of employees were laid off, and Xicha responded that it was false information. 3
Just now, Xicha was exposed that it would start layoffs, involving 31% of employees! Problems such as excessive overtime, delayed year-end bonus and infighting in the company broke out, making employees extremely negative.
In addition to liking tea, Naixue also suffered a share price cut and went public.