Chinese food-delivery giant Meituan announced plans to lower commissions for smaller businesses after recent government guidelines asked for lower fees for restaurants in pandemic-hit regions, reports Bloomberg. Meituan will lower the technical service fee for small and medium-sized sellers in pandemic-affected areas by 50%. It will also place a cap of RMB 1 on the […]
Category: Employment & Education
Chinese recruitment company 51job has agreed to a lower buyout offer from a private equity consortium that sets the company’s value at $4.3 billion, reports Bloomberg. An investor group backed by DCP Capital Partners and Ocean Link Partners reached a deal to buy the Nasdaq-traded firm for $61 per American depositary share, according to a […]
An employee of Chinese social-media giant ByteDance, the owner of TikTok, as died after exercising at the company gym. The 28-year-old’s death has reignited arguments around dangerous levels of over-working at Chinese tech companies, reports Caixin. The incident came just two weeks after the sudden death of a 25-year-old content reviewer at short video platform […]
New Oriental, one of China’s embattled online tutoring firms, reported losses of $876 million for the six months up to November 30, 2021, compared to a net profit of $229 million over the same period in 2020, reports the Financial Times. The New York-listed education group’s losses are its first results since Beijing’s crackdown on […]
Chinese online video streaming giant Bilibili has revealed plans to recruit 1,000 content censors as a result of the controversy around the recent death of a 25-year-old staff member and ongoing discourse related to overwork in the country’s internet industry, reports the Financial Times. The young man, nicknamed Muse Muxin, was deputy team leader of […]