Cool 6 Layoffs Tracking: Paid Leave For Guangzhou's Laid Off Employees

New Express News, following the two sides issued a settlement gesture in the day before the deadline for rectification, cool 6 representatives of both sides of labor and capital held the first round of formal negotiations this Tuesday (May 31st).

According to insiders, the negotiations were carried out by Hao Zhizhong, former vice president of cool 6, on behalf of the dismissed employees and cool 6 new management, but the ice breaking negotiations did not achieve substantive progress. After the cool 6 reformulated the compensation scheme, the two sides will carry out the second round.

It is understood that Wu Zheng and Hao Zhizhong, chairman of cool 6, held an interview on Saturday (May 28th), and both sides expressed their intention to compromise on the premise of open communication.

In May 29th, Wu Zheng said through micro-blog that the cool 6 layoffs had been successfully reconciled, and it was unnecessary to find out who was right or wrong.

According to insiders, although both sides expressed their hope as soon as possible.

It is reported that the currently laid off employees are waiting for Cool 6 to come up with the latest compensation plan for the second round.

There are legal experts analysis, because the provisions of the labor contract law on economic layoffs have approved the rationalization of layoffs after the pformation of the business mode, so although Cool 6 has been ordered to rectify by the Haidian District labor department, but after completing the procedures to inform employees in advance and report to the Ministry of labour, cool 6 can continue to lay off workers, but it needs to pay two times compensation.

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There are only five or six people in Guangzhou company still working.

At 3:30 p.m. on June 3rd, only 6 of the 6 Guangzhou companies located on the 9 floor of Guangsheng mansion in Tianhe District were in office.

There were more than 40 people working here. Through the glass reporters outside the door, many of the seats were still left intact, as if their owners had not left.

"A few days ago, the company informed us that we should take paid leave for a month. At present, we are waiting for the results of the consultations in Beijing."

Guangzhou company has been layoffs to the new express reporter said that although the formalities, salary settlement, compensation for breach of contract and other issues have not yet been implemented, but most of the dismissed employees also understand that layoffs are imperative, has been completed work handover.

It is reported that the Guangzhou company's layoffs nearly 80%, the total number of employees has been reduced from the original more than 40 people to about 10 people, even the cool 6 Southern China general manager Chen Cheng is also being laid off.

But compared with the fierce resistance of employees in Beijing and Shanghai, Guangzhou's layoffs are very calm, and is described by Yu Peng, director of cool 6, as "the best area to deal with".

However, it has been reported that, due to the "very thorough" layoffs of the cool 6 Guangzhou, the sale of advertising has now been completely suspended. Not only is there no new business to follow up, but even advertisers want to cancel the order, and they do not know whom the relevant mail should be dealt with.

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Chen Tianqiao first responds to cool 6 layoffs

Yesterday, the grand group CEO Chen Tianqiao in the first quarter of 2011 earnings conference call the first time on the cool 6 layoffs, publicly stated that before the cool 6 chairman Wu Zheng's views on Cool 6 layoffs, has fully represented the board of directors including themselves, the decision is based on the decision of the strategic pformation of cool 6, but the grand side is still optimistic about the future development prospects of cool 6.

A quarterly report released yesterday revealed that the company's net operating income in March of this year was 1 billion 631 million yuan (US $248 million 700 thousand), an increase of 25% over the same period last year.

Net profit was 85 million 500 thousand yuan (US $13 million 200 thousand), down about 61% from the same period last year.