Two Chinese companies to reduce about 10,000 employees

17:03 - 16.03.2022

March 16, Fineko/abc.az. Chinese tech giants are preparing to lay off 10,000 of their employees.

ABC.AZ reports that Tencent Holdings and Alibaba Group, one of China's largest technology companies, are planning to lay off tens of thousands of employees in total due to ongoing regulatory pressure in China.

It is reported that Tencent and Alibaba plan to reduce the number of employees by 10-15%.