Tencent CEO blasts managers over ‘corruption’ as business reels

Pony Ma, founder and CEO of Chinese tech giant Tencent, reportedly launched into a tirade directed at the company’s employees during a year-end townhall on December 15, Reuters reported, citing sources familiar with the matter.

In the townhall, Ma told employees he had discovered many “corruption” issues inside the company based on the firm’s internal reviews this year. He also said that mismanagement was sapping the company’s vitality.

Ma’s rant comes after Tencent had one of its toughest years since its establishment. The company has cut about 7,000 employees this year, while it recorded its first decline in revenue since going public in 2014.

“Your projects can’t even survive as a business – they are living on life support, but still you just cheerily play ball on the weekend,” Ma said during the townhall, according to the report.

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