Tencent has denied rumors of mass layoffs in its gaming division but announced management reshuffles
After a series of rumors about layoffs and reorganization within Tencent's subsidiaries, TiMi Studio Group and LightSpeed Studios, the corporation officially stated that this information is false.
Call of Duty: Mobile
Recently, reports surfaced online regarding the possible merger of some teams within TiMi Studio Group, which purportedly could affect approximately 1,200 employees—20% of its workforce. Currently, the company oversees 13 studios employing around 6,000 people.
Similar rumors involved LightSpeed Studios, where according to unverified information, up to 30% of the workforce might be reduced.
However, as Tencent's representatives clarified in media comments, TiMi Studio Group is, in fact, planning to expand and is actively recruiting new employees.
At the same time, there will indeed be changes at the executive level within the company’s gaming division. Vice President Zeng Yu, who was responsible for the technical direction of Tencent IEG and the content creation team, will step down from his post.
More than 10 other top managers have also either been transferred to different positions within the company or have left their roles.
To recall, TiMi Studio Group is known for projects like Call of Duty: Mobile, Honor of Kings, and Age of Empires Mobile.
LightSpeed Studios, on the other hand, is positioned by Tencent as a co-developer of PUBG Mobile. The company was also responsible for the development of the canceled Apex Legends Mobile.
