Tencent Targets 10% Of Managers For Job Cuts Or Demotion

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President Martin Lau told an internal meeting late last year that its lowest-performing general managers will need to leave the company or be demoted, mainly because not much staff-pruning has occurred in the past, the people said, asking not to be identified talking about a private matter. Jane Yip, a spokeswoman for the company, declined to comment.

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