Usually, companies hold internal meetings at the year-end to assess performances of individuals as well as groups, and heads of different verticals often congratulate their team members for their perfor-mance that year. But nothing of this sort happened at this Chinese tech giant – Tencent Holdings.
Pony Ma, the co-founder of tech and gaming giant, Tencent, recently gave an earful to his employees while addressing them at a town-hall meeting last week. The Chinese billionaire’s message to employees was clear — don’t chill when business is struggling, Bloomberg reported.
“You can’t even survive as a business, yet you’re chilling on the weekends, playing ball,” Bloomberg reported Ma as saying to the employees. Ma’s comments were first reported by local media outlet Jiemian, as per the report.
In the backdrop of an economic slump and Covid restrictions, Tencent Holdings Ltd has been facing challenging times with its gaming business facing hurdles from regulations intended to curb addiction among the youth.
Pony Ma lost $14.6 billion after a sweeping crackdown on the gaming industry last year. The company also laid off thousands this year, Bloomberg reported.
Globally, companies are facing economic slowdown, which has forced many of them to cut jobs and adopt other cost-saving measures.
As per reports, Chinese technology company Xiaomi has begun laying off workers across several of its smartphone and internet services units, according to Hong Kong newspaper South China Morning Post. The job cuts are reportedly affecting around 15 per cent of the company’s workforce, which stood at 35,314 as of 30 September. Around 32,000 of the total workforce is based in mainland China.
