Is letv closed down?
Letv has not closed down. At the critical moment when Jia Yueting disappeared on 20 17 and left huge debts, it was widely believed that it would not last for half a year. However, LeTV has not gone bankrupt. Instead, it adopted a completely different business strategy from other enterprises and successfully turned over. Letv has established a flexible salary system to realize the two-way linkage of employees' income according to the company's performance and personal performance, and at the same time, it has implemented a four-and-a-half-day working system to ease the work pressure of employees. Letv will also use all its profits to repay debts, reduce the debt ratio through asset repayment, and communicate with creditors to get more opportunities for debt restructuring and deferred repayment. These measures have helped LeTV retain its core employees and maintain its basic operations. In the case of LeTV's business crisis, various departments of LeTV, which lacked clear leadership, began to operate spontaneously and made decisions through staff meetings and collective discussions. The working hours of employees were shortened to four and a half days, and the job satisfaction was greatly improved. Letv employees' self-help actions show their creativity and unity. They spontaneously organized various activities and established a big family like a family. Letv's employee autonomy model is a great initiative of domestic enterprises, which breaks the shackles of enterprise hierarchy and realizes the rational distribution of resources and the maximum autonomy of employees. This independent wind may bring more opportunities and innovations for the future development of LeTV.