Charts of the Day: China’s Year of Tech Layoffs

China’s largest internet companies slashed their workforces in 2022 as they grappled with a slowing domestic economy and the aftermath of an industrywide regulatory clampdown.

Six out of China’s 10 biggest tech firms by market value, including Alibaba Group Holding Ltd. and Tencent Holdings Ltd., cut the number of employees by around 4% to 10% last year, according to Caixin’s calculations based on their annual reports.