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China Big Tech: Why many overworked employees are quitting to become entrepreneurs amid internet slowdown
China’s internet giants have slashed jobs in recent years, affecting tens of thousands of people, many of whom have decided to become entrepreneurs themselves, with mixed results.
As of the end of 2023, China’s BAT – Baidu, Alibaba and Tencent – had a combined total of 364,477 employees, a drop of nearly 25,000 from a year before A search using the term ‘Big Tech departure’ on Douyin returns dozens of results, offering advice on job hunting, e-commerce, career change and management That year also marked the start of China’s crackdown on the internet sector, when Beijing said it would regulate monopolistic practices of online platform operators and prevent the “disorderly” expansion of capital. Du, who lives in Chengdu, the capital of southwestern Sichuan province, is one of the tens of thousands of Chinese workers who have left their jobs at the country’s Big Tech firms in recent years, as the industry lost its growth momentum.
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