In summary
Tencent Holdings has announced a second wave of layoffs in the firm, following Twitter and Meta.
Previously, the corporation laid off about 5500 workers.
According to the New York Times, Amazon is planning its largest layoffs ever.
Ankita Chakravarti writes: The IT industry's layoff season is far from done. Tencent Holdings has announced a second wave of layoffs in the firm, following Twitter and Meta. Tencent previously laid off employees in August of this year. According to Reuters, layoffs are being implemented in the video streaming, gaming, and cloud industries. The number of workers affected by the latest layoffs is unknown. Previously, the corporation laid off about 5500 workers.
According to ReutersAccording to the article, Tencent has begun to reduce its employees once more. According to the sources, the layoffs would affect three of Tencent's six business divisions: platform and content (PCG), which includes its video and news platforms, interactive entertainment department (IEG), and cloud and smart industries group (CSIG). According to the reports, several IEG employees were informed of the layoffs last month.
Tencent laid off workers in August. The layoffs were justified by the corporation as a cost-cutting measure. Tencent announced in August that their personnel count had dropped to 110,715 by the end of June from 116,213 in March. Tencent, on the other hand, has declined to comment on the new round of layoffs.
“TencentAccording to Reuters, "management has stated that they are focused on saving expenses and have shuttered non-core operations in various areas, including online education, e-commerce, and gaming live-streaming." To minimise expenses, the Chinese software business has already banned employment for the first time in a decade.
The tech industry has struggled with layoffs. Twitter let off over 3500 people just a week ago, and Meta laid off approximately 11,000 staff. Amazon is also likely to lay off around 10,000 staff.
According to the New York Times, Amazon is planning its largest layoffs ever. The e-commerce behemoth will have an impact on its retail segment and human resources department. Amazon may part ways with up to 10,000 employees, or up to 3% of its total workforce.Amazon corporate workers and 1% of the global workforce
"We anticipate keeping this pause in place for the next several months and will continue to evaluate what we're seeing in the economy and the company to modify as we believe makes sense," says Beth Galetti, Amazon's senior vice president.The tech industry has struggled with layoffs. Twitter let off over 3500 people just a week ago, and Meta laid off approximately 11,000 staff. Amazon is also likely to lay off around 10,000 staff.
According to the New York Times, Amazon is planning its largest layoffs ever. The e-commerce behemoth will have an impact on its retail segment and human resources department. Amazon may part ways with up to 10,000 employees, or up to 3% of its total workforce.Amazon corporate workers and 1% of the global workforce
"We anticipate keeping this pause in place for the next several months and will continue to evaluate what we're seeing in the economy and the company to modify as we believe makes sense," says Beth Galetti, Amazon's senior vice president.
You must be logged in to post a comment.