Caixin
Apr 01, 2022 09:00 PM
BUSINESS

In Depth: As Tencent Lays Off Staff, Is Its ‘Winter’ Approaching?

Tencent headquarters in Shenzhen, Guangdong province. Photo: VCG
Tencent headquarters in Shenzhen, Guangdong province. Photo: VCG

Tencent — the operator of China’s unassailable WeChat super-app, the world’s largest video game publisher and one of Asia’s most valuable companies — is firing staff.

At the tech conglomerate’s latest earnings call on March 23, President Martin Lau admitted the industry faces “fundamental changes and challenges” after years of “frothy and unhealthy” growth.

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