Tencent is the world’s largest gaming company and China’s most valuable company, with stakes in dozens of foreign game studios and companies: Riot Games, Epic Games, Roblox, Discord, Pocket Gems, etc. Tencent also owns WeChat, the Chinese social supernetwork. app, like Tencent Music.
After posting its first profit drop in the last quarter, Tencent laid off about 5% of its workforce, affecting 5,000 people. But a month later, it turns out tencent continues to make cuts.
I have some degree of sympathy for start-ups navigating a difficult market and having to make the difficult resolution of eliminating jobs; however, Tencent is a mega-company that made more than $88 billion in profits last year. Of course, its valuation fell after nearly reaching the unfathomable $1 trillion last year. But is firing some writers the answer to those problems?
– Merritt (@merritt) September 15, 2022
According to tweets from Merritt K, one of Fanbyte’s last remaining employees, the layoffs included the site’s editor-in-chief, media manager, editor, social editor, news editor, graphic designer, podcast maker and various writers.
Tencent did not respond to a request for comment on the layoffs.
As promised, those layoffs were treated so extraordinarily that it almost makes Coinbase CEO Brian Armstrong look good. The Fanthroughte workers were slowly dismissed, one by one, over several hours. There’s nothing like staying alone in your apartment, waiting to locate if you still have a job, watching your colleagues tweet that they’re looking for a new job.
– Cian Maher (@cianmaher0) September 15, 2022
However, a small glimmer of hope that the social media manager dismissed while she still had access to Fanbyte’s social media accounts. It basically gave Tencent the middle finger, and after years of seeing writers, I like to lose their jobs for reasons beyond their control. , I live for that.
— hot gyarados (@RenOrRaven) 15 September 2022
For several hours, Fanbyte’s Instagram bio read, “Tencent earned $35 billion in net revenue last year and fired nearly every member of Fanbyte’s children’s society. Please staff elsewhere :)” The account lately has the name of demo, “Forgot the keys?”
Ah, sweet revenge. However, do you know what would be even better?If the world’s largest media corporations stopped looting the right publications to save a few hundred thousand dollars a year, that’s only a fraction of a fraction of a% of their net source of revenue anyway.
If you have to make layoffs, don’t be silly