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Tencent May Keep Laying Off Employees in The Second Half of 2022

By Johnson Ge
Jun. 24, 2022 updated 09:02

On June 23rd, the Technology online media 36Kr reported that Tencent would keep its pace, laying off employees in the second half.

According to 36Kr’s inner sources in Tencent, there is a 10% layoff rate for each Business Group in Tencent. Some departments in the Platform & Content Group (PCG) have a layoff rate of 40-50%, with some departments having all employees laid off. Tencent also hid the total employee number in their Enterprise WeChat Group, making it harder to track the change. 36Kr said they had asked Tencent for confirmation but received no comment.

Some people believed Tencent wanted to lower its administrative expenses. In the financial report for 2022 Q1, Tencent’s operating profit saw a 34% year-to-year decrease while the total revenue was kept at the same level. Tencent’s administrative expenses grew to 27 billion CNY with a 41% growth rate. At the same time, the total employee number increased from 89,228 to 116,213, a 30% increase. 

At this moment, the article from 36Kr has been deleted, along with many similar articles posted on other media platforms. 

Source: 36Kr