Video Game Streamer HUYA Follows Alibaba In Scaling Back Post Regulatory Crackdown

HUYA Inc HUYA slashed jobs following the likes of Alibaba Group Holding Ltd BABA in scaling back post aggressive regulatory crackdown, Reuters reports.
The Tencent Holdings Ltd TCEHY controlled Chinese video game streaming site aiming to create China's answer to U.S. platform Amazon-owned AMZN Twitch, plans to cut hundreds of staff.
Also Read: Alibaba Looks To Slash Workforce By 30% After Its MMC Division Decides To Lay off 20% Employees
HUYA's Nimo TV unit, launched in 2018 as an international version of HUYA, was most heavily affected by significant staff cuts.
HUYA had 2,075 employees in 2020.
In 2021, Chinese regulators blocked Tencent's plan to merge HUYA and DouYu to create a $10 billion video game streaming behemoth. Since then, Chinese regulators have ramped up oversight of the live streaming industry.
Price Action: HUYA shares traded lower by 3.80% at $3.80 in the premarket on the last check Monday.