Tencent slashes about 1,900 jobs in third quarter

Chinese tech giant Tencent has cut 1,879 staff in the third quarter of the year, having let go of 5,500 workers in the previous quarter, the South China Morning Post reported.

The headcount reduction reportedly affected the firm’s gaming, cloud computing, and video streaming arms. The latter two businesses have reportedly undergone two rounds of layoffs since April.

Since hitting a peak in the number of its employees in the first quarter of 2022, the company has so far cut 7,377 jobs in total.

However, the firm has retained 108,836 employees as of the end of September – which still represents a 1.7% rise in staff from the same time last year.

Tencent has faced a host of problems this year: It’s still in the crosshairs of the Chinese government’s recent crackdowns, the firm’s shares dipped to their lowest price in years, and the company recorded its first decline in revenue since going public in 2004.

However, it seems that tech giants worldwide have been going through the same. Amazon announced plans to lay off 10,000 employees, Meta has made 11,000 job cuts, while Twitter has fired “nearly half” of its workforce.

See also: Tencent’s gameplay in a sea of troubles