Job losses in China’s technology sector show no sign of easing as 2022 nears its end, with video-streaming platform Bilibili and Twitter-like microblogging service Weibo laying off hundreds of employees under the name of “business optimisation” amid a challenging economy, reports the South China Morning Post.
While Chinese tech firms rarely admit to slashing jobs because lay-offs involving more than 20 employees require intervention from labour authorities under Chinese law, many companies have been carrying out so-called business restructuring since last year in a rush to cut costs.
The latest round of lay-offs at Shanghai-based Bilibili affects the company’s live-streaming and product divisions, according to two people familiar with the matter, who declined to be named because they were not authorised to speak with media.