China's tech giant Tencent lays off staff after tough 2021

FILE PHOTO: A Tencent logo is seen in Beijing, China September 4, 2020. REUTERS/Tingshu Wang/File Photo

Tencent — the operator of China’s unassailable WeChat super-app, the world’s largest video game publisher and one of Asia’s most valuable companies — is firing staff.

At the tech conglomerate’s latest earnings call on March 23, President Martin Lau admitted the industry faces “fundamental changes and challenges” after years of “frothy and unhealthy” growth.

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