Stock Market News

Head Tencent reported company’s corruption problems

2022.12.23 01:21

[ad_1]



Head Tencent reported company’s corruption problems

Budrigannews.com – Tencent Holdings (OTC:) is a Chinese technology conglomerate founded by According to two employees who are familiar with the situation, Ltd informed employees that mismanagement was reducing the company’s vitality and that numerous instances of “corruption” had been discovered.

According to sources, Pony Ma stated at a year-end staff meeting on December 15 that internal reviews this year had revealed unspecified corruption within Asia’s largest social media and gaming company, displaying a rare display of frustration.

He likewise bludgeoned ranking directors following one of the hardest years for Tencent since its establishing in 1998, with income battered by an administrative crackdown and headwinds from measures to stop the spread of Coronavirus.

According to one employee who heard the remarks and another who was briefed on them, Ma said during the call, “Your projects can’t even survive as a business – they are living on life support, but still you just cheerily play ball on the weekend.”

A request for information was not met by Tencent. Due to the sensitive nature of the matter, the sources refused to be identified.

Jiemian, a local Chinese media outlet, was the first to report on the meeting.

Last month, Tencent’s ad and gaming businesses were impacted by China’s economic slowdown and regulatory scrutiny, resulting in a second consecutive quarterly revenue decline.

Since going public in 2004, Tencent had reported growth of at least double digits almost every three-month reporting period up to the previous quarter.

More Apple workers in Australia demanding a salary increase

Sources said that WeChat Video Account, Tencent’s short video platform, was Ma’s “hope” and that the company needed to focus on short video for future growth. Ma, who mostly stays out of the public eye, also said that.

He warned that the video game industry would have to get used to Beijing’s strict licensing policy and that China would only allow a limited number of new games in the long run.

Head Tencent reported company’s corruption problems

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 83,932.49 0.56%
ethereum
Ethereum (ETH) $ 1,923.07 0.55%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.38 0.36%
bnb
BNB (BNB) $ 611.97 3.17%
solana
Solana (SOL) $ 135.43 1.34%
usd-coin
USDC (USDC) $ 1.00 0.00%
cardano
Cardano (ADA) $ 0.737657 0.41%
dogecoin
Dogecoin (DOGE) $ 0.174363 1.32%
tron
TRON (TRX) $ 0.220261 1.37%
staked-ether
Lido Staked Ether (STETH) $ 1,922.48 0.78%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 83,783.45 0.34%
pi-network
Pi Network (PI) $ 1.56 7.18%
leo-token
LEO Token (LEO) $ 9.74 0.17%
chainlink
Chainlink (LINK) $ 13.85 0.43%
the-open-network
Toncoin (TON) $ 3.48 19.60%
stellar
Stellar (XLM) $ 0.274118 1.15%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,302.91 0.81%
usds
USDS (USDS) $ 1.00 0.01%
hedera-hashgraph
Hedera (HBAR) $ 0.191653 1.80%
avalanche-2
Avalanche (AVAX) $ 19.11 3.39%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 0.27%
sui
Sui (SUI) $ 2.33 0.40%
litecoin
Litecoin (LTC) $ 91.91 0.62%
bitcoin-cash
Bitcoin Cash (BCH) $ 338.45 2.84%
polkadot
Polkadot (DOT) $ 4.31 2.48%
mantra-dao
MANTRA (OM) $ 6.59 5.32%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.03%
weth
WETH (WETH) $ 1,923.05 0.57%
bitget-token
Bitget Token (BGB) $ 4.44 0.46%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.09%
hyperliquid
Hyperliquid (HYPE) $ 14.00 1.16%
whitebit
WhiteBIT Coin (WBT) $ 28.82 1.28%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,043.94 0.51%
monero
Monero (XMR) $ 212.03 0.84%
uniswap
Uniswap (UNI) $ 6.18 2.47%
susds
sUSDS (SUSDS) $ 1.04 0.02%
aptos
Aptos (APT) $ 5.34 2.37%
dai
Dai (DAI) $ 0.999804 0.01%
near
NEAR Protocol (NEAR) $ 2.61 0.09%
pepe
Pepe (PEPE) $ 0.000007 0.83%
okb
OKB (OKB) $ 46.40 0.58%
internet-computer
Internet Computer (ICP) $ 5.73 1.07%
ondo-finance
Ondo (ONDO) $ 0.863403 1.23%
ethereum-classic
Ethereum Classic (ETC) $ 17.82 1.21%
mantle
Mantle (MNT) $ 0.787582 7.27%
gatechain-token
Gate (GT) $ 21.50 1.43%
aave
Aave (AAVE) $ 170.62 1.63%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 83,917.48 0.53%
official-trump
Official Trump (TRUMP) $ 12.05 1.88%