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China seeing tech and internet sector downsizing

These days, more and more Chinese technology and internet firms, including star companies like Huawei, Alibaba and Baidu are reported to be slowing down recruitment or cutting jobs as the industry's business approaches a bottleneck, prompting companies to rethink expansion plans and reduce costs.

Huawei, the largest telecommunications equipment manufacturer in the world, suspended its social recruitment program to cut costs, reported by the Beijing Youth Daily on 24th October.

“In principle, Huawei has stopped the regular social recruitment and vacant positions will be filled by people from a smaller pool of candidates, or via internal reassignments," according to the report citing a document from the board of Huawei.

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