CHENGDU, Dec. 7 (NBD) -- LeSports, subsidiary of China’s technology brand LeEco, announced its organizational reforms and personnel adjustments on Tuesday.

In response to NBD, LeSports said the total staff reduction is around 10% and the portions varies in different departments, which is determined by their operation status. Share price of LeEco slid 7.35% following the announcement. 

Analysts commented that LeSports’ layoff strategy is an attempt to evolve as a more marketing-oriented platform and also expect it to suspend spending on copyrights in bulk.

Established on March 22, 2014, LeSports became independent from Letv.com and started distributing its businesses across the entire sports industry based on the unique value proposition of combining events operations, streaming content, and smart devices with internet services.

Editor: Zeng Yunheng