TapTechNews May 16 report, according to 21st Century Business Herald, it was learned from multiple independent sources that after the May Day holiday, NIO is undergoing a new round of company-wide personnel optimization, with a total optimization ratio exceeding 18%. The 2023 financial report shows that NIO has nearly 31,600 employees. According to the optimization ratio, this round of optimization involves more than 5,600 people. TapTechNews noticed that on March 21, NIO CEO William Li issued a company-wide letter, reviewing the root causes and solutions of the company's issues in March, stating 'We pay too much attention from top to bottom on sales volume and competition, letting desires override values, causing significant decline in our expertise in user value and operational efficiency. The pursuit of desires has turned us into people we hate.' On April 3, NIO issued a company-wide announcement, announcing the start of matrix organizational upgrade 2.0 and multiple departmental organizational adjustments. The latest report said that the departments with more optimization this time include the recruiting department, sales service operations department, and intelligent driving department. Specifically, the sales service operations department will optimize more than 400 people, the recruiting department will be reduced from over 200 people to 40-50 people, and the intelligent driving team will be reduced to less than 1,000 people. Sources familiar with the matter said that at the end of April, the management approved the final list of layoffs, and this round of layoff optimization officially started in the first week of May and will mostly end by the end of May, with N+1 compensation for optimized employees. NIO hopes to complete most of the personnel optimization plan before the June 15 employee stock unlock date, so as to save some costs for employees to cash out their stocks. In April of this year, there were reports online that NIO employees revealed the company's status, while NIO stated that the online reports of large-scale layoffs and budget cuts are not true.