New Oriental Education & Technology Group Inc., one of the largest after-school tutoring companies in China, let go of 60,000 staff in 2021 after a drasticThe company also incurred nearly 20 billion yuan, the equivalent of $3.
1 billion, of expenses, company founder and Chairman Michael Yu said in a Saturday post on a personal social-media account. The costs covered returning prepaid tuition, severance payments and breaking leases on existing teaching space.
How can this kind of scandal, typical of what one can find in a capitalist and free society occur in a communist and totalitarian society?
CarlMinzner The CCP in China is a joke and people pay for the punchline.
It makes American investors China dream broken.
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