According to Aboluowang, since the beginning of this year, the Chinese regime has increased controlling measures in many fields, and the number of workers who have been laid off has been escalating.
Several technology companies in China are struggling and are forced to cut a great section of their human resources.
Many media outlets reported in early December that iQiyi, a leading Chinese video platform provider, is laying off employees, with the company expected to lay off about 3,000 people.
Didi Chuxing employees will have to wait until next year to receive this year’s bonus, and 10% of unqualified executives will be eliminated. Ctrip’s Shanghai headquarters has laid off 30% of its staff and year-end bonuses will be postponed until next year. The UCAR Company has begun to lay off employees. Guazi is expected to lay off 30% of employees by the end of the year, and layoffs in individual departments could be as high as 50%. Suning’s Beijing R&D center has laid off staff, and some units of the company have laid off 70% of employees.
The situation is similar for companies operating in the education sector. Sina Company has laid off 90% of employees in the Research and Development department. Mafengwo has laid off 40% of its staff and has no year-end bonuses. Vipshop plans to lay off employees, most without year-end bonuses. CreditEase began laying off employees in December.
In other areas, the rate of workers being laid off is also very high. The overall rate is 25% and there is no year-end bonus. NIO’s payday has been delayed by eight days and thousands of employees have been fired. Kuaishou and 360 have announced the layoffs, though the rate is still unknown. Bytedance began laying off employees two months ago, with a maximum rate of 70%.
The real estate industry is also laying off workers, with many companies having slashed 50% of their workforce.
Sun Liping, a professor at Tsinghua University’s Department of Sociology, said that a large wave of unemployment is hitting China, and the origin of this wave of unemployment comes from five main causes:
- Real Estate’s current crisis
- Foreign companies withdrawing from China
- Small and medium-sized enterprises shut down during the epidemic
- The CCP regime reform and oppression with new regulations on education and tutorial industry
- The e-commerce policy changes.