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China tech

China internet regulator seeks to quiet Big Tech layoff rumors

CAC says 12 major companies' workforce level 'stable' amid rising jobs anxiety

HONG KONG -- China's top internet regulator said on Friday that staffing at the country's major online platforms is stable, responding to speculation that companies including Alibaba Group Holding and Tencent Holdings have started large-scale layoffs.

The Cyberspace Administration of China said it had interviewed 12 companies about workforce levels: Tencent, Alibaba and affiliate Ant Group, food delivery platform Meituan, online retailers Pinduoduo and, video app operators ByteDance, Kuaishou and Bilibili, as well as Baidu, NetEase and Weibo.

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