Tencent continues to strengthen its position outside China by investing more money in Western companies. It has now increased its stake in Max Payne and Control maker Remedy Entertainment.

Chinese tech giant Tencent has reportedly started a new round of layoffs. Employees at several key business units, including video games, may soon lose their jobs.

Tencent has been struggling to make a comeback amid ongoing regulatory pressure in China and other macroeconomic factors. As a result, the downfall of the company’s stock continues.

Shawn Layden, the former head of Sony Interactive Entertainment, has joined Tencent Games as a strategic advisor. He will help the Chinese tech giant strengthen its positions in the global games market.

A round of layoffs has hit gaming media outlet Fanbyte, which is owned by Tencent. This comes at a time when the Chinese tech giant is making cuts at its subsidiaries.

Ubisoft CEO Yves Guillemot has opened up Tencent’s recent investment in Guillemot Brothers Ltd. He noted that this deal won’t affect the company’s independence in any way, while also commenting on the latest share price drop.

Ubisoft saw its shares tumble after Tencent announced its decision to invest €300 million in Guillemot Brothers Limited. The news made the company’s investors worried about buyout prospects.

Tencent has invested in over 120 companies in the first half of 2022. It helped the Chinese tech giant become the fourth most active VC firm globally.

Tencent and Sony have announced their decision to buy minority stakes in FromSoftware. The deal will make the Chinese tech giant the second largest shareholder in the Eldend Ring and Dark Souls developer.

A few weeks after announcing his departure from 343 Industries, Nicolas Bouvier has joined AAA studio Team Kaiju. He is another Halo veteran at the new development subsidiary of Tencent’s TiMi Studio Group.

Tencent continues to pursue Western expansion amid ongoing pressure in China. The company has reportedly reached out to the Guillemot family to increase its stake in the Assassin’s Creed maker.

Ashraf Ismail stepped down from a top position at Ubisoft in 2020 following allegations of misconduct. However, it’s been revealed that he quickly managed to find a new job at one of Tencent’s subsidiaries.

Roblox had to take several steps to comply with China’s censorship, a new portion of leaked internal documents has revealed. The company also expected Tencent to clone the game and make its own version for the local audience.

Tencent has dispelled rumors that it will allow Chinese underage gamers to play for more than three hours a week during the summer. The company will continue to follow the country’s strict rules, saying that kids should better go outside.

Another Tencent’s product will soon be closed. The Chinese tech giant has announced its decision to shut down the mobile app of WeGame, a game store dubbed its answer to Steam.

South African holding company Naspers, which is one of Tencent’s largest minority shareholders, has decided to gradually sell its stake in the company. The Chinese tech giant saw its stock fall as a result.

Tencent will roll out a new global version of its biggest hit Honor of Kings. The announcement comes amid ongoing regulatory pressure in China, as no new games from Tencent have been approved by the government in 11 months.

Chinese tech companies have been conducting staff cuts, according to the latest reports. Tencent is one of the firms to lay off employees at several departments amid regulatory pressure and the impact of the latest lockdowns.

Tencent has released its financial report for the first quarter of 2022 (ended March 31). The Chinese tech giant recorded no revenue growth, citing a decrease in its domestic player base due to the latest game-related restrictions in the country.