Tal Education Group (NYSE: TAL), the first U.S.-listed Chinese technology education company, will shut down its subject-based off-campus training business and make massive layoffs to comply with Beijing’s “double reduction” policy by the end of this year. Tal Education Group is expected to lay off about 16,000 people and retain only 4,000 to start the…
China’s Implementation of ‘Double Reduction’ Indicates Political Infighting
On July 24, the General Office of the Central Committee of the CCP and the General Office of the State Council jointly issued the “Opinions on Improving and Reducing the Burden of Students’ Homework and Off-campus Training in Compulsory Education (Opinions),” which was effective immediately. The Opinions explicitly put forward the “double reduction” policy, that…
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