Tencent says no major layoffs planned, says it is different from Silicon Valley companies

▤ Summary

Tencent reported Q1 2026 revenue of RMB 196.46 billion ($27.2 billion), up 9% year-on-year, and net profit increased 21% to RMB 58.1 billion ($8.0 billion). At its shareholder meeting, President Liu Chiping said there are no plans for large-scale layoffs and emphasized that Tencent is different from Silicon Valley companies. The company employed 115,849 people worldwide as of the end of 2025. The message aims to reassure employees and the market amid industry-wide job-cut concerns while highlighting solid financial performance.

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