Troubled LeEco 'plans to cut US workforce'

BEIJING - Chinese technology conglomerate LeEco plans to lay off more than 300 employees in the United States, reducing the headcount to about 50 people, according to a company source.

The employees left at the whittled-down US business will service customers who have already purchased LeEco devices, the source who did not want to be identified said.

The layoffs sharply scale back the company's ambitions in North America, where it made a splashy debut in October.