Tencent Shuts Down Rumors of Massive Layoffs at TiMi Studio

In recent news, Tencent, one of the world’s largest gaming companies, addressed rumors surrounding potential layoffs at its subsidiary, TiMi Studio Group, a well-known developer of popular titles like Honor of Kings and Call of Duty: Mobile. Understandably, rumors were rife that Tencent planned to reduce the scale of TiMi Studio to 20% in order to meet the demands of surviving under difficult economic conditions. Nonetheless, Tencent has dismissed the allegations and continues to assure its employees as well as on-going projects.

The news of possible employee dismissals started as whispers on Chinese social media – setting off waves in the tech scene and heightening the insecurity regarding employment in the gaming sector. The speculation was that high employee turnover at TiMi was Tencent’s way of adapting to the competition and a soft gaming market. However, recently, Tencent officials came out, and in a statement, they dubbed such allegations as fake and totally baseless.

Tencent maintains TiMi Studio is still at work with an active recruitment of new employees and working multiple active projects. The company had to note it continues with its mission of providing quality gaming products and increasing its operations around the world. This commitment has come at a time when the company has been struggling to cope with changing regulatory measures put in place in China, with the goal of enabling the firm to carry out necessary adjustments to meet both regulations and goals of growth in the country.

As observed by industry specialists, over the past few years, both the tech and gaming industries worldwide became more regulated compared to the past, and Tencent has been rather active in adapting to such changes. The company has been keen on market diversification, expansion of overseas investments and research in evolving technologies such as artificial intelligence to foster competition.

The words from Tencent also emphasise the company’s belief in the capacity of TiMi Studio and its business spadework to advance the gaming field. While choosing their path in the steadily growing international market of games, Tencent continues to be a key competitor; the company gives all its best to actively shape this industry’s future while maintaining a stable employee base.