The once-freewheeling industry was long the main source of well-paid employment in China, but major companies are now reportedly downsizing at a scale not seen before as President Xi Jinping’s government continues its crackdown on private enterprise.
The Chinese government says the country’s overall unemployment rate remains stable, fluctuating between 5% and 5.5% in recent months. And there are no official figures on tech-related job losses so far this year.
Private surveys suggest, however, that jobs are being lost across the economy, and in tech in particular.
According to Lagou, one of China’s largest tech recruitment websites, 2.76 million tech