NetEase cuts jobs in Shenzhen as first-person shooting game 'underperforms'

South China Morning Post11-29

NetEase, China's second-largest video gaming company, has cut an undisclosed number of jobs involved in an "underperforming" project that will soon be shut down, according to a person with knowledge ...

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Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team.\n\"Not many\" NetEase employees were involved in that game in Shenzhen, according to the person.\nThe job cuts were first reported on Friday by Chinese media. A report by digital outlet The Paper, which cited people close to NetEase, described the company's action as a workforce reduction affecting \"a single product\", not a mass lay-off at its Shenzhen offices.\nNetEase did not immediately reply to a request for comment on Friday.\n\nA promotional poster of NetEase's mobile shooter game Hyper Front. Photo: Sina alt=A promotional poster of NetEase's mobile shooter game Hyper Front. Photo: Sina>\nIn September, NetEase also announced the closure of part or all of the operations for four video games it runs on the mainland, including the domestic version of Pokemon Quest.\nTencent Holdings, which runs the world's largest video gaming business by revenue, and NetEase had scaled back many of their investments in Japanese studios amid a revival in the Chinese market on the back of Black Myth: Wukong, developed by Hangzhou-based studio Game Science.\nNetEase had cut all but a handful of jobs at its Ouka studio in Tokyo, according to an August report by Bloomberg, which cited people familiar with the matter. NetEase also intended to shut its Shibuya outfit, which had opened in 2020.\nDismissing the Shenzhen staff involved in Hyper Front also showed that NetEase must contend with increased competition in the first-person shooter (FPS) genre on the mainland.\nTencent earlier this month said that Valorant and Delta Force, two popular FPS titles that it runs in China, have shown a broad appeal to young gamers across the country. Shanghai-based miHoYo, creator of Genshin Impact, is also reportedly developing a new shooter title.\nNetEase reported that its overall third-quarter revenue declined 3.9 per cent year on year to 26.2 billion yuan (US$3.6 billion), while net profit plunged 17 per cent. In the same period, NetEase's revenue from games and related value-added services - the company's core business - decreased 4.2 per cent from a year ago.\nThis article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2024 South China Morning Post Publishers Ltd. All rights reserved. \nCopyright (c) 2024. South China Morning Post Publishers Ltd. 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