Tencent bans 23 partner companies, over 100 employees, here’s why

Tencent Group, which is one of China’s biggest tech companies, has revealed that it has banned 23 companies as part of its anti-corruption drive. Additionally, it has also laid off over 100 employees for being involved in underhand practices such as bribery and embezzlement, the company noted in a press release.
According to a report by the South China Morning Post, the company has taken things further with at least 10 employees who were reported to the police. Li Zengwang, an ex-employee in Tencent’s news department, received a 2-year jail sentence. Another former personnel, Zhang Meng was handed a 3-year imprisonment term.

Corruption cases at Tencent grew from last year
Despite periodic anti-corruption campaigns, corruption apparently grew at Tencent from the previous year. In 2021, 70 employees and 13 companies were axed on similar charges. This year has seen a 42% increase in employee corruption, whereas there’s been a 76% jump in companies banned.
Tencent antigraft team’s WeChat post had revealed that workers from its gaming studios and content team were stripped of their roles last year. These included employees from the congolomerate’s notable firms such as Timi Studio Group and Lightspeed Studios.

The press release stressed the firm’s zero-tolerance policy against corruption. It emphasised that these employees will not be hired in the future nor the companies will be entertained for potential partnerships.
It’s worth noting that anti-corruption campaigns are also in place at China’s other big firms. This includes leading e-commerce firm Alibaba Group Holding and the China-centric company Meituan. However, Tencent was the first corporation to start this practice back in 2019.

Not long ago, in an interview with Jiemian, founder and CEO Pony Ma Huateng shed light on the firm’s advancements in anti-corruption investigations. He said that the process was moving towards a smarter and more digital direction. Huateng confirmed that the campaign would keep improving in future.

For all the latest Technology News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! TechNewsBoy.com is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.