May 24, 2022 08:50 PM

Tencent Fires Gaming, Fintech Staff in Wake of Miserable First Quarter

Tencent's office in Beijing on April 3. Photo: VCG
Tencent's office in Beijing on April 3. Photo: VCG

Tencent Holdings Ltd. is firing swathes of people from its gaming and fintech departments as massive layoffs that started in March continue, as the tech titan reports weak performance amid a regulatory crackdown and the Covid-19 pandemic.

The Shenzhen-headquartered giant is ditching employees at its Interactive Entertainment Group (IEG), which includes its lucrative gaming department, Caixin learned.

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