Kuaishou Kicks Off Mass Layoffs as Losses Double
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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