Tencent to Trim Workforce for Online Content and Cloud Business

What’s new: Tencent Holdings is planning job cuts affecting two of its six major business divisions, though the size of the workforce reduction will be smaller than expected, multiple sources from the company told Caixin.

The tech giant will cut jobs mainly in its Cloud & Smart Industries Business Group (CSIG) and the Platform and Content Group (PCG), reflecting slowing growth momentum of related businesses, the sources said. The company didn’t comment on the matter.