Tencent Layoffs
February 2023
Tencent announced a layoff affecting 300 employees in February 2023. The company operates in the Consumer sector.
300
Feb 17, 2023
About
Tencent, Asia's largest internet company, is making personnel adjustments in its extended reality (XR) unit, affecting over 300 employees, following a change in its hardware development plans. While denying reports of disbanding the business entirely, the company confirmed on February 22, 2023, that it is restructuring some teams, offering affected staff two months to seek new opportunities internally or externally. This move marks a shift for Tencent, which had ventured into hardware with the XR unit in June 2022 as part of its metaverse strategy, amidst broader industry challenges in the tech sector.
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