Asia Tech Wire (Oct 14) -- Chinese surveillance camera maker Hikvision has denied mass layoffs.

This comes on the heels of reports that Hikvision is undergoing a large-scale organizational restructuring recently, with 32 R&D regions shrinking to 12, and the optimization of staff is due to involve more than 1,000 people.

To this, Hikvision responded late Friday that "there is no large-scale layoffs in the company, it is a business strategy adjustment."

The company "needs to optimize its R&D strength in its headquarters and key sales cities, and has therefore adjusted some of its regional postings accordingly," Hikvision explained.

According to its 2023 annual report, Hikvision's total number of paid employees for the year was 58,544, of which the number of technical staff was the largest, amounting to 28,479, accounting for nearly half of the total.