In a recent statement to Yicai, Tencent, the Chinese tech and entertainment powerhouse, has firmly refuted circulating rumors regarding layoffs within its gaming division. A company representative clarified that no restructuring efforts are currently underway, emphasizing that the Timi Studio Group, known for its innovative game development, is actively hiring rather than downsizing.
Clarification on Restructuring Rumors
This announcement comes in the wake of speculation surrounding Tencent’s Interactive Entertainment Group (IEG), which oversees its gaming operations. Reports had suggested that the IEG was not only planning to reduce its workforce but also to consolidate its 13 development studios into a mere four, potentially affecting 20 percent of its staff. However, Tencent has categorically denied these claims, asserting that there are no specific optimization plans in place at this time.
While the company has dismissed the notion of mass layoffs, it appears that some leadership changes are indeed taking place within the IEG. Notably, Vice President Zeng Yu has stepped down from his role overseeing the technical line and the Platform and Content Group, with Senior Vice President Ma Xiaoyi taking the helm. Sources indicate that Yu’s departure is amicable, as he plans to retire and spend more time with his family.
Additionally, the company is experiencing a broader wave of management transitions, with ten other leadership changes reported. Among these shifts, Huang Lanxiao, the General Manager of Timi’s Level 1 studio and the executive producer of the popular mobile game Honor of Kings, is also stepping down. These adjustments reflect Tencent’s ongoing evolution within its gaming sector as it navigates the dynamic landscape of the industry.
