Amid the authorities’ sweeping crackdown on the internet industry, Chinese tech giants are axing thousands of employees following last year’s resignation of founders or CEOs from their companies.
Speaking to The Epoch Times on April 23, Shen Rongqin, a Ph.D. at the European Institute of Business Administration (INSEAD) and associate professor at York University in Toronto, Canada, said that major internet companies faced a headwind in their development as Chinese authorities have been imposing strict controls on the internet since 2021.
On April 22, an employee of JD.com (JD), known as also Jingdong Group, a Chinese e-commerce giant, posted on Maimai, a Chinese LinkedIn, that on March 31, he was unexpectedly asked to sign a notice of termination of labor relations with the company, and his contract was discontinued that day. His workplace access card was immediately  deactivated.
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