Dalian Wanda Group Co.s struggling Internet business is restructuring, the units President Qu Dejun said on a personal social-media account, after the state news organization The Paper reported the company would cut more than 1,000 jobs.
The closely held Internet group within billionaire Wang Jianlins real-estate-to-entertainment conglomerate is undergoing a partial restructuring for better, faster and healthier development, Qu said in the wechat post. Wanda Internet Technology Group declined to comment on the workforce reduction report.
The job cuts come after Wandas fledgling digital operation, which has aimed to develop an e-commerce model that works with brick-and-mortar retailers, delayed a $1.5 billion fundraising in Se…
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