Market Chatter: Perfect World Lays Off Hundreds of Staff

MT Newswires Live06-25

Gaming platform Perfect World (SHE:002624) laid off hundreds of employees across different departments and cities, in a move regarded as "not unexpected," online news portal The Paper reported Monday, citing an unnamed source.

The layoffs at the gaming company encompass nearly the entire company as they affect other business areas other than e-sports. The research and development area slashed their staff by the hundreds, while the middle office department saw reductions to dozens of staff from about 150, The Paper said.

Perfect World's investor relations department confirmed there were "personnel changes," adding there would be adjustments to projects according to the actual situation, The Paper said.

The company's games have not performed well alongside its attributable profit, which plunged 64% to 491 milion yuan in 2023, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (RMB): Â¥7.32, Change: Â¥-0.44, Percent Change: -5.67%

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