Chinese technology giant Tencent has fired more than 120 employees in 2023 for fraud, including corruption and embezzlement. In total, at least seventy violations were found.
In addition to more than 120 dismissals, just under 20 employees have been reported to Chinese authorities. He writes for the American financial news magazine Barron's. By comparison, Tencent has more than 100,000 employees. One of the fired employees was reportedly sentenced to four years in prison and a fine of approximately €13,000.
Some of the laid-off employees worked in the company's entertainment and news division. Another part worked in Tencent's medical applications division, in which the company also plays a major role in China. Pony Ma, founder of Tencent, had previously described the level of corruption within the company as “shocking” and promised improvement.
The tech giant has been in dire straits for some time due to the strict regulations of the Chinese authorities. For example, there are restrictions on online gaming by minors and there is oversight of financial services. These are the things Tencent generates a significant portion of its revenue from.
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