BEIJING, November 9th news, in response to rumors about layoffs and unpaid salaries at 24quan, CEO of 24quan, Du Yinan clarified externally that 24quan did adjust the salary structure of its employees. This move was aimed at ensuring normal settlement of merchants' payments, balancing cost-saving measures to get through the industry winter.
Du Yinan stated that the group-buying industry has always been profit-oriented, and 24quan realized this relatively early. Despite the current industry downturn, 24quan has prepared contingency plans, including optimizing station setups and employee salary structures, forming an incentive mechanism internally for all staff, which is beneficial for healthy corporate competition and development, and may even help achieve profitability targets earlier.
Moreover, Du Yinan mentioned that 24quan will become profitable before the end of 2011, with plans to list as early as 2013.
Regarding unfounded rumors of malicious wage arrears, Du Yinan believed these were irresponsible claims fabricated by some individuals. Currently, 24quan has only made corresponding adjustments to the wages and payment schedules of all employees. Meanwhile, all merchant settlements are proceeding smoothly.
Additionally, Du Yinan also noted that 24quan's gross margin has already reached 12%, and this number could increase to between 15% to 20%, with the potential to become profitable before the year-end.
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