China’s Economy Falters, Tech Giants Lay Off Massively; Internet Sector’s Decline Seems Unstoppable
Recently, the news of massive layoffs by the Chinese internet technology company NetEase has attracted public attention. According to Chinese media reports, NetEase began large-scale layoffs in December last year, with NetEase Media being a major target, and the gaming department was also affected. Although NetEase immediately denied the rumors of massive layoffs and blocked the source of the news, it also proved that the wave of layoffs has spread to the tech industry, and the Chinese internet sector is gradually declining.
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