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Chinese internet giant Tencent withdraws free meals to contract employees in line with cost-cutting moves as growth stalls

News Snapshot:

Tencent Holdings, China’s most valuable company, will cancel free breakfast and dinner perks for its contract personnel in line with efforts to cut costs, according to two such employees who received that internal notice. Those personnel, who are outsourced by third-party firms to work at Tencent for a predetermined period and sum of money, were told that they will have to start paying for meals from August 15, according to the two employees, who both declined to be named because they are not authorised to speak to media. Shenzhen-based Tencent, which runs the world’s largest video gaming business by revenue…

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