cross-posted from: https://feddit.uk/post/13812624
JD.com founder Richard Liu warned employees against prioritizing work-life balance during a recent video conference, stating those who “put life first and work second” were not welcome at the company. This stance reflects a broader trend in China’s tech sector as executives face slowing growth and increased competition.
Major tech firms, including Alibaba and Tencent, have cut tens of thousands of jobs since 2021. Companies are now seeking younger, cheaper workers and demanding longer hours from existing staff. Pinduoduo, an e-commerce group known for its high productivity and grueling work culture, is seen as a model by some in the industry. In 2021, two Pinduoduo employees died in incidents linked to overwork by colleagues.
Older tech professionals, typically over 35, face the greatest risk of redundancy and struggle to find new positions. Employers often view them as expensive and less flexible due to family responsibilities. A 2023 survey of 2,200 professionals in China’s largest cities revealed widespread anxiety about career prospects and work-life balance. Many in the industry report experiencing depression and high stress levels.
China is not Socialist, it’s State Capitalist.
Firing older employees in order to pay less to newer employees to pad the bottom line is Capitalism 101, unless someone thinks all the big US companies (Microsoft, Cisco, Meta, Tesla, etc) that have been doing this same thing this past year are all Socialist.