Chinese short video platform Kuaishou is starting a new round of layoffs, Chinese media The Paper reported Wednesday. Mid-level managers and low-performing employees are likely to be cut, according to the report. It’s unclear how many people will be affected. Kuaishou staff have posted on China’s business social platform Maimai that the company may cut 10% to 30% of the staff. Kuaishou’s downsizing followed layoff moves from ByteDance and iQiyi. Chinese tech giants are weathering a market downturn due to tightened regulations and slowed economic growth. [The Paper, in Chinese]