China’s largest technological companies began to massively reduce employees, writes South China Morning Post.
dismissals are held against the backdrop of the uncertainty of regulation in the technological sector and slowing down the growth of the economy caused by the fight against coronavirus. In April, the level of unemployment among people aged 16 to 24 years in China reached 18.2%.
As the publication notes, since the companies do not disclose information, it is not yet known which employees will be dismissed – at the same time, according to the publication, the reduction of jobs takes place in a wide range of posts.
In particular, the largest gaming company and Tencent Holdings media holding reduces about 100 people from their sports channels. According to the South China Morning Post source, some companies within Tencent have been suffering from reductions since April – so, some teams consisting of more than 20 employees have already been fired.
According to the publication, in addition to Tencent, employees reduce Alibaba Group Holding – this will affect the work of units such as Dingtalk, Alibaba Cloud, Taobao and Taobao Deals.