Chinese Company Tencent Fires Workers : The economic condition in the world is not good, due to which many companies are busy taking leave of their employees. Let us tell you that in big countries like America, the economic condition is bad. Recruitment has been banned in the biggest company for one reason or the other. Those who were asked to join the company, now those people have been ordered to work from home. This time the Chinese conglomerate Tencent has shown its 5,500 employees the way out of the company.
mass layoffs
Chinese conglomerate Tencent reported revenue of $19.8 billion in its June quarter. China’s largest video gaming and social media company has laid off about 5,500 employees from its payroll in the second quarter.
This is the reason
In this case, the company says that Tencent has reduced its workforce for the first time since 2014. By the end of June, the number of employees has increased to 110,715, which was 116,213 in March. Pony Ma Huateng, founder and CEO of Tencent, says that, during the second quarter, we actively exited non-core businesses.
big loss forecast
According to market analysts, 25 billion yuan is not estimated. Net income reached 18 billion yuan during this period, down 56 percent from a year earlier. Tencent is going to sell some or all of its 17 percent stake in Meituan, one of China’s largest food delivery companies.
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