Massive Lay Offs at Perfect World

Business

25 June 2024 19:37

Perfect World, a prominent player in the Chinese gaming industry, has made the headlines in China due to widespread layoffs. Reports and online sources indicate that the company is undergoing substantial restructuring in both projects and personnel. Highly anticipated games like 'Perfect New World' and 'One Punch Man' have allegedly been put on hold, leading to a significant downsizing of staff.

The magnitude of these layoffs is unprecedented within the company. Internal sources reveal that over a thousand employees have been let go, with some research and development departments seeing reductions of hundreds, and the middle platform team shrinking from 150 members to just a few dozen.

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Perfect World Games, originally founded as Perfect World by Chi Yufeng in 2004, started as a developer and publisher of online multiplayer titles. The company gained an initial public listing on the Nasdaq stock exchange in 2007. In 2015, Perfect World Games was delisted from Nasdaq and subsequently merged with Perfect World Pictures, which traded on the Shenzhen Stock Exchange.

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