Jan 07, 2022 08:35 PM

TECH

Kuaishou Kicks Off Mass Layoffs as Losses Double

By Guan Cong, Zhu Haoyu and Ding Yi

The Kuaishou Technology headquarters in Beijing on Feb. 3, 2021. Photo: VCG

The Kuaishou Technology headquarters in Beijing on Feb. 3, 2021. Photo: VCG

China’s No. 2 short-video player Kuaishou Technology Co. Ltd. is laying off nearly a third of some departments, becoming the latest of its cohort to fire staff as the sector reels from Beijing’s crackdown on the tech sector.

The Tencent-backed company is laying off 10% to 30% of its workforce in departments involving its eponymous app’s operations, commercialization, e-commerce, internationalization and gaming, several employees told Caixin.

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