App Development

Tencent Cuts 5,500 Jobs in First Quarterly Workforce Decline Since 2014 as Revenue Falls

Tencent Cuts 5,500 Jobs in First Quarterly Workforce Decline Since 2014 as Revenue Falls

Tencent on Wednesday reported a drop in revenue to CNY 134 billion (roughly Rs. 1,57,000 crore) in the second quarter, compared to the year before. In the first drio in revenue since the company went public, the firm said profits plunged by 56 percent to CNY 18.6 billion (roughly Rs. 21,800¬†crore). Tencent also cut around 5,500 jobs down to 110,715 employees by the e…

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