The9 Lays Off Beijing Branch Staff

Netease Tech, 5/18/10

An industry source has said that Chinese gaming company The9 (Nasdaq: NCTY) began layoffs at Beijing subsidiary Jiuchuang Interactive Information Technologies last weekend, with the majority of R&D division employees leaving the company. This would be the company's second down-sizing of its Beijing operations following June 2009 layoffs at Beijing subsidiary Jiujing Shidai ("Jiujing Times").

Editor's Note: In an interview today, The9 VP Shen Guoding denied reports that The9 was "once again dissolving a Beijing subsidiary," though he did confirm that the company was restructuring the subsidiary. Shen said that following an assessment of a project in progress at the Beijing subsidiary, The9 decided more than a week ago to discontinue R&D on the project. After consideration, The9 has decided to dissolve the R&D team according to the process required by law; more than 10 employees have left the company as a result.

Keywords: The9 Shen Guoding Internet NCTY online gaming HR

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