- HUYA Inc HUYA slashed jobs following the likes of Alibaba Group Holding Ltd BABA in scaling back post aggressive regulatory crackdown, Reuters reports.
- The Tencent Holdings Ltd TCEHY controlled Chinese video game streaming site aiming to create China's answer to U.S. platform Amazon-owned AMZN Twitch, plans to cut hundreds of staff.
- Also Read: Alibaba Looks To Slash Workforce By 30% After Its MMC Division Decides To Lay off 20% Employees
- HUYA's Nimo TV unit, launched in 2018 as an international version of HUYA, was most heavily affected by significant staff cuts.
- HUYA had 2,075 employees in 2020.
- In 2021, Chinese regulators blocked Tencent's plan to merge HUYA and DouYu to create a $10 billion video game streaming behemoth. Since then, Chinese regulators have ramped up oversight of the live streaming industry.
- Price Action: HUYA shares traded lower by 3.80% at $3.80 in the premarket on the last check Monday.
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