[Update: 70% of US employees let go] LeEco founder Jia Yueting steps down as CEO of public unit

• Update 1: 2017/05/22 7:23pm PDT
  According to CNBC, things might be even worse for the US division than previously expected. A source claims that over 85% of LeEco's employees in the country may be let
• Update 2: 2017/05/23 11:40am PDT
  CNBC is now reporting that 70% of the total US workforce for LeEco was let go today. It wasn't quite as bad as we had expected yesterday, but things are

Jia Yueting, former LeEco CEO and founder of the company, is voluntarily replacing himself as CEO from the publicly traded arm of the LeEco conglomerate, to be succeeded by former Lenovo executive Liang Jun.

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[Update: 70% of US employees let go] LeEco founder Jia Yueting steps down as CEO of public unit was written by the awesome team at Android Police.

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