the layoff of over 100 employees + “leading sheep” programme
May24 Micro Connect, a Macau-based financial market platform, is planning to dismiss or reassign a quarter of its employees, following the recent announcement of what some described as a “leading sheep” programme. On 22 May, Micro Connect’s co-founders Charles Li and Zhang Gaobo announced the layoff of over 100 employees in an internal letter, citing reasons such as a transition to a new development strategy, the need for operating cost control, and management missteps . A spokesperson for Micro Connect told Macau News Agency (MNA) on Thursday that the decision was not related to the ‘company’s operational or financial conditions’ but rather stems from a ‘business transformation and structural change’. “ Our business model is transforming so we have to make this difficult decision,” the spokesperson empathised in a phone call. In the letter, the co-founders explained that the company is currently fully focused on developing the financial market platform, Micro Connect Macao Financial