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  Update 1: 2017/05/22 7:23pm PDT
  
  According to CNBC, things might be even worse for the US division than previously expected. A source claims that over 85% of LeEco’s employees in the country may be let

Jia Yueting, former LeEco CEO and founder of the company, is voluntarily replacing himself as CEO from the publicly traded arm of the LeEco conglomerate, to be succeeded by former Lenovo executive Liang Jun. Over the last 6 months, LeEco has been in the news quite a lot, seemingly going from crisis to crisis after its entrance into the US market.

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[Update: More US LeOffs] LeEco founder Jia Yueting steps down as CEO of public unit was written by the awesome team at Android Police.

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