ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Tencent fires gaming and fintech staff in wake of miserable Q1

Poor performance due to COVID and tough regulations threatens more jobs

Tencent Holdings reported poor results for quarterly revenues, as the tech titan failed to grow for the first time since its 2004 IPO.   © Reuters

Tencent Holdings is firing swaths of people from its gaming and fintech departments amid mass layoffs that started in March, as the tech titan reports weak performance amid a regulatory crackdown and the COVID-19 pandemic.

The Shenzhen-headquartered giant is ditching employees at its Interactive Entertainment Group (IEG), which includes a lucrative gaming department, Caixin learned.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more