iQiyi, the video streaming company that was once called the "Netflix of China," is laying off workers to keep costs under control. The former high-profile player is still busy promoting the new original shows “Jirisan” and “Bad and Crazy,”

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but may struggle to regain his height.The Beijing-based company has previously been admired for its Chinese-made shows. Intelligent software engineering and innovation, such as making “Mysterious Summer”

a rare Sino-Japanese TV series. It's also experimenting with developing user-programmable movie theaters.In 2017, a deal with Netflix was announced, making Netflix titles available day and night in China. where Western entertainment technology companies do not operate.

The announcement was a massive public relations coup. But the deal was short-lived and made no progress. to greatness or profitability A year later, iQiyi reached the top of the company by listing on the NASDAQ in the United States.