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China's Quora Zhihu Denies Cutting Up to 30% of Workforce
en.tmtpost.com
Abstract：Bilibili and Zhihu's layoff rumors came as Tencent announced to launch massive layoffs at its sports business segment, right after the world's largest game company posted the worst quarterly performance since its Hong Kong listing in 2004.
BEIJING, May 24 (TMTPOST)— The Quora-like Chinese online content website Zhihu denied layoffs rumor again.
Source: Visual China
It was reported that Zhihu was launching a new round of layoffs, cutting 20% to 30% of workforce. The layoffs was said to affect almost all of the company’s businesses such as technology, commercialization, education, community. The recent move that these reports said is just normal optimization of businesses and organization, Zhihu clarified on Tuesday.
This is the second dismissal for Zhihu’s layoff rumor in a month. Report last month said the company was axing about 40 headcounts in the video business, account for about 60% of its video opearting team, and Cai Lin, the leader of the business also left in the recent round of layoff in the beginning of the year. Zhihu later Tuesday responded that it didn’t have layoff plan yet, instead, it welcomes more talents join in, especially positions at product and operation, as it would continue to increase efforts in video business, which was treated as imperative for its content ecosystem.
Another Chinese internet firm Bilibili made the same response last week, after dismissing the layoff report a month later. The popular video-sharing platform said on last Friday that it only had regular personnel adjustments, after The Paper’s sources revealed its gaming business unit would lay off 20%-30% of its staff, while some of the project teams may cut 70% of the total jobs.
Bilibili and Zhihu’s layoff reports came as Tencent, another leading internet giant in China, announced last Thursday to launch massive layoffs at its sports business segment, a day after the world's largest game company posted the worst quarterly performance since its Hong Kong listing in 2004.Worsely, Caijing, a Chinese business and financial magazine, learned that Tencent is expanding layoffs to most of its business groups, affecting not just social media and content platforms, the cloud, the advertising but the core business game, which is set to reduce about 10% of workforce.
en.tmtpost.com
China's Quora Zhihu Denies Cutting Up to 30% of Workforce
若离 • May. 25, 2022Abstract：Bilibili and Zhihu's layoff rumors came as Tencent announced to launch massive layoffs at its sports business segment, right after the world's largest game company posted the worst quarterly performance since its Hong Kong listing in 2004.
BEIJING, May 24 (TMTPOST)— The Quora-like Chinese online content website Zhihu denied layoffs rumor again.
It was reported that Zhihu was launching a new round of layoffs, cutting 20% to 30% of workforce. The layoffs was said to affect almost all of the company’s businesses such as technology, commercialization, education, community. The recent move that these reports said is just normal optimization of businesses and organization, Zhihu clarified on Tuesday.
This is the second dismissal for Zhihu’s layoff rumor in a month. Report last month said the company was axing about 40 headcounts in the video business, account for about 60% of its video opearting team, and Cai Lin, the leader of the business also left in the recent round of layoff in the beginning of the year. Zhihu later Tuesday responded that it didn’t have layoff plan yet, instead, it welcomes more talents join in, especially positions at product and operation, as it would continue to increase efforts in video business, which was treated as imperative for its content ecosystem.
Another Chinese internet firm Bilibili made the same response last week, after dismissing the layoff report a month later. The popular video-sharing platform said on last Friday that it only had regular personnel adjustments, after The Paper’s sources revealed its gaming business unit would lay off 20%-30% of its staff, while some of the project teams may cut 70% of the total jobs.
Bilibili and Zhihu’s layoff reports came as Tencent, another leading internet giant in China, announced last Thursday to launch massive layoffs at its sports business segment, a day after the world's largest game company posted the worst quarterly performance since its Hong Kong listing in 2004.Worsely, Caijing, a Chinese business and financial magazine, learned that Tencent is expanding layoffs to most of its business groups, affecting not just social media and content platforms, the cloud, the advertising but the core business game, which is set to reduce about 10% of workforce.
(from its all-time high) or 44% (from its IPO price) of their share value since being forced by the CCP to delist from the NYSE. These 2 companies would have thrived very well today had they not been seriously curtailed by the CCP.
