BEIJING: Chinese language tech big Tencent stated Monday (Jan 16) it had fired greater than 100 workers for violating firm insurance policies, with some referred to police and later discovered responsible of bribery and embezzlement.
The Hong Kong-listed firm is the world’s prime online game maker and the proprietor of in style super-app WeChat however has struggled below a broad regulatory crackdown on China’s tech sector initiated in late 2020.
In a press release, the agency – which in November posted its second consecutive quarterly decline in revenue – stated it had discovered greater than 100 workers responsible of violating its anti-fraud coverage.
Greater than 10 have been transferred to China’s public safety organ, it added.
“In response to the issues of corruption and fraud throughout the firm, Tencent’s Anti-Fraud Investigation Division continued to strengthen its crackdown and investigated and handled a collection of violations with widespread issues,” the agency stated.
“The variety of instances and personnel investigated and handled all through 2022 has elevated in contrast with 2021,” it added.
These accused have been discovered to have embezzled firm funds and accepting bribes, it added, with a quantity referred to police and a few discovered responsible in court docket.
Quite a few these fired and accused of corruption have been a part of the corporate’s PCG arm, which oversees its mammoth content material output from information to sports activities and flicks.
However additionally they span Tencent’s different companies, together with cloud computing and fintech.
Most notably, one worker was discovered responsible of “accepting bribes from non-state workers” and sentenced to a few years in jail, the corporate stated.
Company CEO Pony Ma told an internal staff meeting final month that the extent of corruption on the agency was “surprising”, state media reported.
Tencent has been hit exhausting by a regulatory crackdown on video video games by Beijing, which noticed a whole bunch of corporations pledged to clean “politically dangerous” content material from their merchandise and implement curbs on underage gamers to adjust to authorities calls for.
However the agency has proven indicators of revival, with its share worth nearly doubling in Hong Kong since October 28, when it hit a low not seen since 2017.
The agency was additionally final month granted its first licence for a online game in 18 months, ending a dry spell that had hampered the earnings of the world’s prime recreation maker.