In Depth: As Tencent Lays Off Staff, Is Its ‘Winter’ Approaching?

Tencent — the operator of China’s unassailable WeChat super-app, the world’s largest video game publisher and one of Asia’s most valuable companies — is firing staff.

At the tech conglomerate’s latest earnings call on March 23, President Martin Lau admitted the industry faces “fundamental changes and challenges” after years of “frothy and unhealthy” growth.