Head Tencent reported company’s corruption problems
2022.12.23 01:21
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.
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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.
