Though layoffs at China’s leading tech firms are not unusual, this is the first major round of layoffs since Beijing’s crackdown on indigenous digital behemoths. JD.com, Alibaba, and Tencent did not answer Insider’s inquiries right away. As of August 2021, Meituan Select recorded the highest number of monthly active users among all e-commerce mini-programs in China, amounting to about 136 million. According to a previous 36Kr article, the majority of the cuts will be made in the cloud and smart sectors, as well as the platform and content business units. For the second quarter of 2022, JD.com reported net revenues of RMB267.6 billion (US40.0 billion), representing a 5.4 increase from the same period of 2021. In the parlance of Chinese tech industry, optimization is a.

According to Reuters, which cited anonymous sources, this would result in about 39,000 workers losing their employment.Īccording to the same Reuters article, Tencent, which has roughly 86,000 employees and owns the famous messaging platform WeChat, is considering laying off 10% to 15% of its employees in specific business divisions this year. A widely circulated document online purportedly leaked from JD.com shows that the planned cuts impact wider sections of the company's workforce, with a so-called optimization ratio ranging between 10 and 30 and involving several units under JD.com and JD Technology. JD.com’s announcement comes as Alibaba, another e-commerce behemoth, is rumored to be considering cutting off at least 15% of its workforce this year.

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