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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.

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