Employees at China’s biggest tech companies have faced massive layoffs amid regulatory uncertainties in the tech sector and the slowdown in the economy caused by the fight against COVID-19. About informs South China Morning Post.
It’s not yet known how many of China’s tech giants’ workforces will be affected, as companies aren’t ready to release these figures publicly, but layoffs are happening across a wide range of jobs, according to SCMP.
For example, Tencent Holdings’ largest gaming company and media is laying off nearly 100 people from its sports channels. Another source said some companies within Tencent have suffered from layoffs since April. It was noted that sometimes entire teams of more than 20 employees were laid off.
In March, Tencent President Martin Lau said the company had streamlined some non-essential work to control headcount. At the same time, he noted that by the end of this year, the total headcount will still be higher compared to 2021.
Alibaba Group Holding is also among the companies that laid off workers. According to an Economy Week report, the company is gradually laying off employees. According to media reports, this will affect the work of divisions such as DingTalk, Alibaba Cloud, Taobao and Taobao Deals.
It is stated that the unemployment rate for 16-24 year olds in China in April was 18.2%, 13.9% in Europe and 8.6% in the USA.
Formerly socialbites.ca saidApple has announced that it has removed the Chinese company BOE from its supply chain of OLED displays for the iPhone 14.
Source: Gazeta
