Netease Denies Downsizing Rumors
Sohu IT, 6/28/10
Chinese online game operator Netease (Nasdaq: NTES) has denied rumors that the company's game distribution center will soon undergo downsizing, and that a lack of severance compensation has caused discontent among numerous employees.
Industry rumors earlier today said that numerous staff in Netease's game distribution center received text messages or oral notification on June 23 stating that the company's headquarters had made a decision to cut staff, and that employees would be eligible for economic compensation in accordance with national law. On June 24, employees were told that the company would not carry out staff cuts for the time being, and that excess staff would be reassigned according to market demands. The following day, employees were told once again that the company would not undergo downsizing, and would not issue severance, but that individual underperforming employees would be asked to resign, causing dissent among numerous staff.
Netease employs approximately 1,200 staff throughout offices under its game distribution center in about 100 cities in China.
Keywords: Netease Internet NTES HR online gaming
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