In China, Job Cuts Mount in Sectors Hit by Tighter Regulations

Chinese companies are laying off tens of thousands of workers as Beijing’s regulatory clampdowns weigh on the technology, education and property sectors, which in many cases offered higher salaries than other industries and helped drive economic growth.

Video-streaming services are cutting staff. Companies that offer tutoring are reducing teachers and shutting down apps, and real-estate agents have been let go as China’s housing market slows.

Source: https://www.wsj.com/articles/in-china-job-cuts-mount-in-sectors-hit-by-tighter-regulations-11639915203?mod=itp_wsj&yptr=yahoo