The first rule of conducting a layoff is not a fool about it. The second rule is to make sure that the social media manager you just fired still doesn’t have access to your account. Today, Tencent broke both of those rules by laying off nearly all of the editorial staff at Fanbyte, an online gaming publication.
Tencent is the world biggest game company and most valuable company in China, holding stakes in dozens of game studios and international game companies: Riot Games, Epic Games, Roblox, Discord, Pocket Gems, to name a few. Tencent also owns WeChatChina’s super social networking site, as well as Tencent Music.
After announcing its first revenue decline from last quarter, Tencent laid off about 5% of its workforce, affecting 5,000 people. But a month later, it looks like Tencent is still cutting back.
I have some sympathy for burgeoning startups navigating a challenging market and making job cuts the hard way – but Tencent is a big company that has made a lot of money. than $88 billion in revenue last year. Sure, its valuation went down after it almost reached 1 trillion dollars can’t understand last year. But is firing some writers really the answer to these problems?
According to ‘s tweet Merritt CZKone of the last remaining employees at Fanbyte, the layoffs included the site’s editor-in-chief, head of communications, feature editor, social editor, news editor, publisher. graphic designer, podcast producer and several writers.
Tencent did not immediately respond to a request for comment on the layoffs.
As promised, these layoffs were handled so horribly that Brian Armstrong, CEO of Coinbase, looks good. Fanbyte employees were laid off gradually, one by one, over the course of several hours. There’s nothing like sitting alone in your apartment, waiting to see if you still have a job, watching your co-workers tweet that they’re looking for a new job.
However, it is extremely small that the social network manager was fired while she still had access to the Fanbyte social media accounts. She basically gave Tencent the middle finger, and after years of watching writers I love lose their jobs for reasons beyond their control, I’m living it.
Within hours, Fanbyte’s Instagram bio wrote, “Tencent made $35 billion in net income last year and laid off almost every member of its Fanbyte subsidiary! Please support other staff 🙂 ”Account is currently showing display name,”Forgot the key? “
Ah, sweet revenge. You know what would be even sweeter? If the biggest media companies in the world stopped gutting good publications to save a few hundred thousand dollars a year, that would be a fraction of one percent of their net income anyway. surname.