$Vanke(000002.SZ)Why isn't Vanke laying off employees? Just looked at Vanke's financial report and was shocked: Vanke lost 49.4 billion yuan last year and 11 billion yuan in the first half of this year, with losses still expanding.
What's worse, Vanke currently has 127,000 employees with an average salary of 149,100 yuan. I calculated that just the salary expense alone costs Vanke 18 billion yuan a year!
Currently, Vanke is surviving by borrowing. Just saw an announcement that Vanke borrowed 1.68 billion yuan from Shenzhen Metro Group, the eighth time this year it has borrowed from Shenzhen Metro.
I really don't understand. With performance this terrible, why isn't Vanke laying off employees? What's the point of keeping a team of over 100,000 people? Waiting for a comeback? Dream on!
If I were the chairman of Vanke, I would keep at most 20,000 employees and wait until the crisis is over!
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