Former employees of Dianrong, one of the largest P2P lending platforms in China, has accused the company of falling behind on wages and severance pay, according to Chinese media reports (in Chinese).

Amid a government-led clampdown on risky financial practices, the company is closing around two-thirds of its offline branches and plans to lay off 2,000 employees.

A former employee told Netease, “Around mid-January, the company suddenly notified us that it is shutting the branch. We were going to work as usual. They announced the news, shut down the system, and asked [the staff] to sign the severance agreement.” He had yet to receive his wages and commissions for December and January.

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Nicole Jao

Nicole Jao is a reporter based in Beijing. She’s passionate about emerging trends, news, and stories of human interest within the world of technology. Connect with her on Twitter or via email: nicole.jao.iting@gmail.com.