Rumor: Tencent North America Branch Lays Off 40% of Staff

Sohu IT, 5/14/13

An industry source revealed today that Chinese internet and mobile services firm Tencent (0700.HK) has begun a new round of layoffs at its North American branch, affecting around 20 people, or 40% of the team.

Japanese social game maker Gree, a frequent gaming partner of Tencent, also recently announced that it will close its China office and dismiss all of its employees, and will terminate its partnership with Tencent. Gree has begun laying off its North American employees.

Tencent's North American team will no longer be responsible for any product R&D following the layoffs. The team will shift its focus to business development and mergers and acquisitions for Tencent's QQ and WeChat (Weixin) messaging products.

Keywords: Internet North America Tencent 0700.HK Gree Inc HR overseas wireless

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