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Tencent Says ‘Personnel Reshuffle’ Underway at Metaverse Unit, Denies Job Cuts

Tencent, which runs the Wechat social media platform and is China’s largest company by market capitalization, said it is executing a “personnel reshuffle” in its extended reality (XR) unit that handle metaverse initiatives and denied that it is cutting jobs in the department. Tencent’s XR unit – which has over 300 staff – was being partially disbanded, according to a Thursday report on the 36kr news site that covers China’s technology industries. The report cited unnamed sources. (forkast)

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