Hong Kong Land is reportedly implementing a layoff plan in mainland China.

Some media quoted market news as saying that Hong Kong Land has recently started implementing a layoff plan in mainland China, with several employees already receiving notices from the human resources department. The company will lay off staff in the residential development department, only retaining the high-end commercial operation team of the "Central Series" in the Suzhou and Shanghai regions. Compensation will be implemented uniformly according to the "N+1" standard, that is, for every year of service, an additional one month's salary will be paid as notification pay. Hong Kong Land officials said that there is currently no specific information available regarding the details of the layoffs.