Chinese Gaming Company Perfect World Announces Mass Layoffs

Perfect World, a prominent Chinese gaming developer, has undergone significant restructuring, resulting in widespread job losses across its offices in Beijing, Shanghai, and Chengdu. According to recent reports, the company has implemented substantial cuts, impacting most departments except for its esports division. The status of ongoing game development projects, including One-Punch Man: World and Perfect New World, remains uncertain, with conflicting reports suggesting either continued development or suspension. Perfect World, known for its role in developing and publishing games, as well as distributing popular titles like Dota 2 and Counter-Strike 2 in China, has also ventured into film production. The company's financial struggles, marked by a 64% year-on-year decline in net profit, have been well-documented. In recent years, Perfect World has undergone notable changes, including the sale of its European subsidiary's publishing branch to Embracer in 2021 and subsequent rebranding efforts.