Tencent has rebutted rumors of widespread layoffs and restructuring, but acknowledged significant changes in its top leadership. The Chinese tech giant’s spokesperson dismissed claims of job cuts and mergers within its gaming subsidiaries.
Key Points
1. Tencent denies layoffs and restructuring rumors.
2. Leadership changes confirmed, including VP Zeng Yu’s departure.
3. TiMi Studio Group actively recruiting, no merger or redundancies planned.
4. LightSpeed Studios restructuring rumors denied.
5. Over 10 individuals impacted by top-level changes.
Background
Rumors emerged earlier this week, suggesting Tencent would lay off 20% of its gaming staff, equivalent to 1,200 employees, and merge teams within TiMi Studio Group. However, Tencent’s spokesperson denied these allegations.
Leadership Changes
A leaked internal email revealed that VP Zeng Yu would no longer lead Tencent IEG’s technical line and the Platform and Content Group Technology & Content Platform. Additionally, over 10 individuals have been impacted by changes at the top, including layoffs, redistributions or retirements, such as Yu.
TiMi Studio Group
The subsidiary, comprising 13 studios and 6,000 personnel, is expanding its workforce, contradicting rumors of mergers and redundancies. Tencent’s spokesperson emphasized that TiMi Studio Group is actively recruiting.
LightSpeed Studios
Rumors of a formal restructure and 30% staff cuts have been denied.
Official Statement
Tencent’s spokesperson emphasized that the company is focused on strategic growth and development, rather than restructuring or layoffs.