Chinese tech giant Tencent has been laying off 10% of its employees in mid-level positions since December to promote younger employees, KrAsia’s parent company 36Kr first reported today, citing multiple unnamed sources at Tencent.
A total of about 200 employees, most of which have served Tencent for more than a decade, will be affected by this reshuffle, which is part of the company’s third structural adjustment, according to the report. Previous big reshuffles had occurred at the fast-growing tech firm in 2005 and 2012.
Tencent declined to comment when contacted by KrAsia.
Tencent is not alone in the recent wave of structural optimization at Chinese tech firms. E-commerce giant JD.com has just fired 10% of its top executives while search engine Baidu rolled out a retirement plan. Zhang Yaqin, president of Baidu’s new business, turned out to be the first to take up the offer.
Tokopedia acquires Indonesian wedding marketplace BridestoryTokopedia acquires Indonesian wedding marketplace Bridestory
US topple China as the world’s largest gaming marketUS topple China as the world’s largest gaming market
Singapore’s new calling: become the innovation hub for Asian agricultureSingapore’s new calling: become the innovation hub for Asian agriculture
Why was Malaysia the first to regulate P2P lending in Southeast Asia?Why was Malaysia the first to regulate P2P lending in Southeast Asia?
David Abraham of Outpost on leading a meaningful life: Startup StoriesDavid Abraham of Outpost on leading a meaningful life: Startup Stories