Tencent-backed fashion commerce site Mogujie cuts 30% of workforce: report · TechNode

Tencent-backed fashion commerce site Mogujie cuts 30% of workforce: report · TechNode

Mogu Inc, a Tencent-backed fashion e-commerce platform commonly known for its Mogujie brand, is laying off more than 30% of its staff, Chinese local media reported on Wednesday, citing several users of Chinese recruitment platform Maimai. The layoff reportedly focuses on Mogu’s tech department, with only around 30 employees supposedly remaining after the company slashed 80% of the jobs within that unit. Having first gone public in 2018, the New York-listed company is now trading 96% below its $14 per share offering price. Layoffs have rocked China’s tech sector over the past month, affecting some of the country’s biggest tech companies including iQiyi, Kuaishou, and ByteDance. [Yicai, in Chinese]



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