{"id":20521,"date":"2022-03-17T09:49:04","date_gmt":"2022-03-17T13:49:04","guid":{"rendered":"https:\/\/www.technewsday.com\/?p=20521"},"modified":"2022-03-21T14:13:03","modified_gmt":"2022-03-21T18:13:03","slug":"alibaba-and-tencent-set-for-massive-layoffs-amidst-tech-crackdown","status":"publish","type":"post","link":"https:\/\/technewsday.com\/staging\/alibaba-and-tencent-set-for-massive-layoffs-amidst-tech-crackdown\/","title":{"rendered":"Alibaba And Tencent Set For Massive Layoffs Amidst Tech Crackdown"},"content":{"rendered":"<p dir=\"ltr\" data-ar-index=\"0\">Two of China&#8217;s biggest tech companies, Alibaba and Tencent are set for a big overhaul of their workforce. The move to layoff tens of thousands of <u>employees<\/u> follows China&#8217;s recent crackdown on tech companies.<\/p>\n<p dir=\"ltr\" data-ar-index=\"1\">According to one of the sources close to the decision, Alibaba could end up paying off 15% of its total workforce, a value that equates to about 39,000 staff.<\/p>\n<p dir=\"ltr\" data-ar-index=\"2\">Tencent will also layoff employees in some of its business units. The unit overseeing businesses including video streaming and search will see a 10%-15% layoff this year.<\/p>\n<p dir=\"ltr\" data-ar-index=\"3\">According to sources, layoffs at Tencent will start with the company&#8217;s less profitable or loss-making businesses such as Tencent Video and Tencent Cloud.<\/p>\n<p dir=\"ltr\" data-ar-index=\"4\">Apart from the regulatory crackdown which has triggered the actions from major tech companies, there are other factors.<\/p>\n<p dir=\"ltr\" data-ar-index=\"5\">These factors include economic decline which has slowed down sales\u00a0growth recorded by the companies. Companies are also experiencing difficulty in making new capital rises and business expansion.<\/p>\n<p dir=\"ltr\" data-ar-index=\"6\">For more information, read the <a href=\"https:\/\/www.reuters.com\/technology\/reeling-chinas-crackdown-alibaba-tencent-readying-big-job-cuts-sources-2022-03-16\/\" target=\"_blank\" rel=\"noopener\">original story<\/a> in Reuters.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two of China&#8217;s biggest tech companies, Alibaba and Tencent are set for a big overhaul of their workforce.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18,57],"tags":[],"class_list":["post-20521","post","type-post","status-publish","format-standard","hentry","category-careers-education","category-companies"],"acf":[],"_links":{"self":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/20521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/comments?post=20521"}],"version-history":[{"count":3,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/20521\/revisions"}],"predecessor-version":[{"id":20534,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/20521\/revisions\/20534"}],"wp:attachment":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/media?parent=20521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/categories?post=20521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/tags?post=20521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}