(Yicai) Dec. 10 -- Hisense Group has rebutted online rumors about mass layoffs while confirming that the Chinese home appliance and electronics manufacturer will make moderate year-end organizational and employee changes based on corporate and individual performance.

The information about Hisense letting go of employees is false, the Qingdao-based firm said on social media today. Those deliberately exaggerating the number and proportion of layoffs will be held accountable, it added.

According to rumors circulating online recently, Hisense will carry out a 20 percent to 30 percent cut to its headcount, with the number of employees to drop to 80,000 from around 110,000.

Hisense uses an evaluation mechanism to moderately adjust its organizational and employee structure according to corporate and individual performance at the end of each year, it pointed out. The firm has also hired 700 fresh college graduates since July 1, it added.

However, Hisense said that its operations are facing uncertainty and challenges, so it has taken the initiative to innovate, upgrade, carry out organizational optimization, implement a differentiating management system for each business segment, and other measures. It will also enable cadre competition for positions to improve operational efficiency, it added.

Established in 1969, Hisense has five listed companies in Shanghai, Shenzhen, Hong Kong, and Tokyo. It owns multiple brands, including Hisense, Toshiba TV, Hisense Ronshen Guangdong Refrigerator, Gorenje, and ASKO.

Hisense's net profit rose 11 percent to CNY13.6 billion (USD1.9 billion) last year from the prior one, while its revenue reached CNY202.2 billion (USD27.9 billion), according to its annual financial report.

Editor: Martin Kadiev