Royole starts large-scale lay offs

The story of Royole financial situation continues to unfold. Last month we updated that Royole is in financial problems, and that it needs a new injection of cash in order to continue its operation.

Royole at the Qingdao Innovation Festival 2020 photo

We reported that Royole started to pay salaries for employees (after it did not pay for over 5 months), but according to a new update the company has started to lay off a large number of its employees in several departments, including sales, marketing, product development and more. In some departments, over 50% of the employees have received notices. It is understood that the compensation package for these employees is low.

Royole has apparently denied the layoff rumor. The company has also chosen to increase salaries for some of its employees in its "Advanced Technology R&D and Production Platform" department, which is the department responsible for R&D and production of flexible displays.

Posted: May 24,2022 by Ron Mertens