Tencent has publicly denied rumors of significant layoffs and restructuring efforts, though it acknowledges several key personnel changes at the top of the company. A leaked internal email, sent on October 25, informed Tencent staff that Vice President Zeng Yu would no longer lead Tencent Interactive Entertainment Group’s (IEG) technical line and the Platform and Content Group Technology & Content Platform. In response to the rumors, a Tencent spokesperson dismissed claims that TiMi Studio Group, which employs around 6000 people across 13 studios, was planning to merge some teams, which would have put approximately 1200 staff – 20% of its workforce – at risk of redundancy.
The spokesperson emphasized that Tencent’s games subsidiary TiMi Studio Group is actively recruiting rather than making cuts.
Tencent addresses leadership changes, rumors
Similarly, rumors of a formal restructure and a 30% reduction in LightSpeed Studios’ staff were denied.
However, the company admitted that “more than 10 individuals” had been impacted by recent changes at the top of the organization. In addition to Yu, who is reportedly retiring, other managers have been laid off or reassigned to different areas within the business. These developments come amidst broader industry speculation and underscore Tencent’s ongoing adjustments at the leadership level, while trying to maintain a stable workforce amidst a dynamic market environment.
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