Following other Chinese tech titans Didi Chuxing, ByteDance, Alibaba, and Baidu, Tencent is reportedly axing about 20% of its workforce.
Tencent’s three biggest units employ nearly 20,000 staff. The cloud and smart industries business group and the platform and content group will see the largest attrition at 20% and 10% respectively, according to TechNode, citing a 36kr report. The interactive entertainment group, however, will not take much of a hit.
In January, Tencent had laid off almost 70 employees who were allegedly involved in bribery and embezzlement last year.
It was reported earlier this week that MMC, the community group-buying business unit of Alibaba, was planning to shed 20% of its workers.
Baidu had let go of nearly 10% to 15% of its total employees while short-video platform Kuaishou was also looking to reduce its staff by 30%. In August 2021, ByteDance reportedly cut hundreds of jobs.
Editing by Eileen C. Ang
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