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Chinese social media platform Weibo said that tech giants Alibaba and Tencent employees are expecting around 30 percent job cuts.
On Mar 13 and 14, Alibaba and Tencent layoffs appeared on Weibo trends, ANI reported from Hong Kong.
There was internal speculation among employees, that Tencent expects to lay off 10 percent to 30 percent of its employees, and Alibaba will lay off 30 percent of its employees.
Since the pandemic began there have been many layoffs by the tech giants. Meanwhile, Alibaba and Tencent both of them are the biggest tech companies in China.
As Alibaba’s community group-buying business unit MMC is reportedly planning to lay off about 20 percent of its employees.
The reported layoffs come amid an ongoing crackdown on tech in Beijing. While iQiyi is reportedly letting go of around 20 percent to 40 percent of its current workforce.
Whereas, Tencent started layoffs within small business departments in September 2021.
