BIDU(US:BIDU) Benzinga·2025-11-28 12:26Group 1 - Baidu Inc. has initiated layoffs across multiple business units, expected to continue until the end of the year [1][2] - Layoff numbers may reach as high as 40% for some teams, with the total number of jobs being cut not yet established [2] - The mobile ecosystem group will face the most significant cuts, while roles related to AI and cloud computing are largely protected [3] Group 2 - Baidu reported a 7% decline in total revenue and an 18% drop in online advertising revenue for Q3, resulting in a loss of RMB 11.23 billion ($1.59 billion) [3] - U.S.-listed shares of Baidu have fallen over 8% in the past month but have increased by 40.6% year-to-date [4] - Despite being the first major Chinese tech firm to launch a ChatGPT-style service called Ernie in 2023, Baidu has struggled against competitors like Alibaba and DeepSeek [5]