NetEase (HKG:9999) Founder and Chief Executive Officer William Ding has started to reorganize the company through layoffs and studio closures, among other measures, Bloomberg News reported Saturday, citing people familiar with the company's inner workings.
Ding's moves, which also include pulling out of international investments, are seen to help the company refocus on a smaller number of titles to help boost profit, the report said.
Should Ding's moves prove successful, he could cement his legacy by strengthening his company's position against Tencent (HKG:0700) and Mihoyo, the report said.
The developments come as NetEase's revenue for the December 2024 quarter inched up 1.5%, the report said.
Shares closed 2% lower during Monday's trading.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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