HONG KONG -- High-profile Chinese tutoring company New Oriental Education & Technology cut about 60% of its 105,200 staff members last year, Chairman Yu Minhong has disclosed, as the group pivoted toward livestream sales and other new businesses amid a regulatory crackdown.
Education
60,000 staff cut as China's New Oriental Education pivots business
Company statement calls chairman's financial disclosures 'not authorized'
New Oriental Education & Technology Group has had to shutter many of its tutoring centers due to Beijing's crackdown on the sector. © Reuters
Read Next
Latest on Education
