Beijing authorities closely monitor the internet, games, advertising, and other areas. The online world in China became more challenging than ever. News of Layoffs’ by companies such as Tencent, Alibaba, Byte, and iQiyi are stressing out many office staff causing them to “Prepare for rainy days.”
According to a report from Sina Technology, from December 1st, iQiyi will begin laying off employees on a large scale. This is the largest layoff in iQiyi's history. Almost all department employees were laid off. Even profitable divisions like content and smart hardware are on the list.