As China continues to suffer an economic slowdown as trade-related tensions with the US drag on, the CEO of what is essentially the Google of China has sent out a letter to his employees with an ominous warning drawn from pop culture: Winter is coming.
Baidu CEO Robin Li wrote in his letter that the Beijing-based search engine company earned 100 billion yuan (the US equivalent of $14.6 billion) in revenue last year. But analysts, according to The South China Morning Post, had forecast 101.45 billion yuan, with the revenue miss coming as the second-largest economy in the world continues to be saddled with its slowest growth in decades, blamed in large measure on the US trade war, which has spurred hiring freezes and job cuts in China.
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It’s not just Apple: Baidu CEO warns employees that ‘winter is coming’ originally appeared on BGR.com on Thu, 3 Jan 2019 at 21:03:38 EDT. Please see our terms for use of feeds.
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