Source familiar with Tencent denies rumors of 50% workforce lay-off, saying company management remarks are misinterpreted

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Chinese tech giant Tencent has dismissed online rumors that it plans to reduce 50 percent of its workforce, saying the claims stemmed from a misinterpretation of management remarks about “reorganizing resources to accelerate artificial intelligence (AI) transformation,” a source familiar with the matter told the Global Times on Thursday.

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