Tech firms are laying off thousands of employees, but they are still hiring for their international businesses. However, entering overseas markets doesn’t always work out, and can lead to some spectacular failures.
JD.com is trimming 10-15% of the staff at a group-buying division, adding to the list of Big Tech firms that are slashing jobs to survive Beijing’s regulatory storm.
Tencent is rumored to lay off 10% to 20% of its employees, joining the list of companies restructuring to survive Beijing’s regulatory storm.
As one of the world’s largest operators of data centers, Tencent was responsible for 5.1 million tons of carbon dioxide last year, roughly one-tenth of what the entire city of New York emitted in 2020. The company is apparently aware of the problem and is seeking multiple methods to achieve zero emissions.
The metaverse, a concept world of virtual and augmented reality, including games and remote working environments, is the hot new thing for China’s tech investors. Here are the top 10 companies in the space.
A young man called out Tencent for abusive work practices and became a hero on Chinese social media. Watch out for him, cautioned one commenter, using an old Cantonese saying.
Beijing’s campaign to tame the internet platforms doesn’t mean an aversion to digital technology. But the government wants technology deployed in the real economy, to make factories more efficient, and cities and villages better places to live.
Jiuzhu Network Technology, a cloud computing and networking startup, has raised $40 million in an angel financing round on the back of growing demand for remote work.
Tencent has off-loaded $3 billion worth of shares in the Singapore-based gaming and ecommerce firm Sea, in a move to align its portfolio to match the priorities of Beijing’s “common prosperity” and sustainability push.
Chinese tech company workers and internet users are less than satisfied with Tencent’s explanation of a young employee’s suicide.