Chinese Food Delivery Firm Meituan Plans To Hire 10,000 Workers As US Tech Giant Ex-Jobs

Meituan firm which is a Chinese food delivery firm, is planning to hire 10,000 workers. The company is going to hire in in the first quarter of the 2023. The company said Wednesday, sending shares more than 6% lower.

Meituan is hiring in many area of the business, technology development and customer servicesare one of them. The hiring is going on in many cities including Beijing and Shanghai. The company said it is hiring as part of a “consumption recovery trend” in China.

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Last year, China saw a major outbreak of Covid-19 across the country with Shanghai under lockdown.

China continues to go forward with  “zero-covid” policy that uses strict rules like mass testing and lockdowns to try to reduce the spread of the virus. This policy and moves has hurt the Chinese economy. A prospect has arisen for the revival of the Chinese economy after China ended its zero-covid policy last year at the end of 2022. This can also help distressed technology firms.

Meituan’s recruiting spree contrasts with that of Microsoft’s Silicon Valley technology giants for alphabet Which has fired thousands of employees.

The stock market didn’t take kindly to the company’s hiring announcement, which comes at a time when sentiment in the Chinese tech sector remains fragile. On Wednesday , Meituan shares were down by 6%.

The company is facing more  competition at home from its longtime rival  company which owned by Alibaba named – Ele.me. But new players include ByteDance’s short video platform Douyin, which launched an e-commerce platform in December. Testing delivery service and considering expansion.

Though in between tech-retail-layoffs the news of hiring is coming from some more places- Check here!