https://www.reuters.com/technology/reeling-chinas-crackdown-alibaba-tencent-readying-big-job-cuts-sources-2022-03-16/ https://seekingalpha.com/news/3853245-tencent-bytedance-lay-off-employees-amid-slowing-growth-report? https://www.techinasia.com/alibaba-cut-deals-staff-chinas-regulatory-crackdown Their regulatory crackdown might have accelerated the layoffs decisions but they were lean businesses to start with. I thought Alibaba and Bytedance were similar or better than their American peers in lean operations. Should we assume layoffs at Meta, Amazon in the double digit %s?
"Despite the cuts, Tencent (OTCPK:TCEHY) and ByteDance (BDNCE) are adding employees in some areas, including the metaverse, virtual reality and continued expansion overseas, The Journal reported." Specifically for ByteDance, the government regulations have impacted videos games and education units. Layoffs have mostly been limited to these two departments, while the rest are growing fine.
Ok so it's just a small bucket not the growing areas
Yes, always be sure to read the content because media titles are almost never accurate.
Ra ra ra rara bangaram arey nitho poti lene ledhu ra bangaram 😜
All companies are laying off people right now. What’s special about this news? 🥱
Who cares about China?
You thought Alibaba was better than it's American piers? Really? Why lol
In terms of operating lean not culturally