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asia

Chinese Tech Firms Lay Off Hundreds as Sector Slows Down

By
Shai Oster
· · Source: South China Morning Post

Reeling from a regulatory crackdown and signs of slowing economic growth, some Chinese tech firms are laying off hundreds of workers. Chinese media have reported deep cuts in firms, with iQiyi and Kuaishou among those hit. At iQiyi, the streaming-video site backed by Chinese search giant Baidu, some departments such as marketing and distribution saw as much as 30% of the staff let go,...

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