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China tech

Tencent to demote 10% of middle managers as game sector falters

Web giant aims to cut labor costs and add fresh blood: Chinese media

GUANGZHOU -- Web services and gaming provider Tencent Holdings is restructuring its middle-management ranks, shaking out those who fall short of performance criteria to make way for fresh faces, a number of Chinese media outlets reported Tuesday.

Tech news site 36Kr reports that 10% of mid-level managers would be demoted, with other outlets pegging the pool of those subject to the restructuring at 200 people. The number of positions will not be cut, but younger managers will be brought in, simultaneously laying groundwork for future growth and slashing labor costs.

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