Thursday, 5 March, 2026
Tencent and Alibaba to lay-off upto 30% of their employees
By Basit Ansari
<p>Rumors have surfaced on the Chinese social media, Weibo, which suggests that Alibaba and Tencent are looking to cut jobs by up to 30%. Internal speculations reveal that Tencent will cut 10-30% of jobs while Alibaba will lay off 30% of their employees. These rumors have emerged amid the ongoing crackdown on tech firms. Another reason is the slowing Chinese economy which only grew by 2.3%, the lowest in the last four decades according to data by National Bureau of Statistics.</p>
Read full story at Business Standard
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