Briefing: Chinese tech giants reportedly suspend social hiring ahead of “internet winter”

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华为 , 阿里 , 京东 3 巨头被曝 ” 全面停止社招 “,真相到底如何 – Sohu Tech

What happened: Chinese internet tycoons including Alibaba, Baidu, Huawei, and JD are reportedly either suspending or downsizing their society recruitment plans due to the unstable market. Although the companies have denied the rumors, claiming they are still open for talents, insiders reveal that they are cutting off recruitments for junior positions while that for senior positions remain relatively unchanged.

Why it’s important: China’s booming internet market, marked by continuous IPOs over the first part of this year, was hit by a sudden downfall where even some of the largest players are seeking to contain financial risks. Tencent’s stock price drop to the lowest point in 15 months earlier this month, while shares of Alibaba, Xiaomi, Meituan experienced steep plunge over the past few weeks. Cutting off recruitment plans might be one of the measures to cope with a sluggish market. Social hiring refers to the recruitment of staff who have work experiences, as opposed to recruiting recent graduates. Recent graduates don’t demand high salaries due to lack of experience. Data from e-recruitment site Liepin shows that hiring in internet-related industries has slowed since October.