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NetEase's Billionaire CEO Slashes Jobs and Games in Profit Push

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After years of expanding overseas, video-game billionaire William Ding is hitting the brakes at NetEase Inc., the pioneering Chinese company behind hits like Eggy Party and its newest blockbuster Marvel Rivals.
NetEase, a prominent Chinese gaming company, is undergoing significant restructuring under the leadership of its billionaire CEO, William Ding, to boost profitability. The company has announced layoffs affecting hundreds of employees, particularly in its Blizzard game development team, following the termination of its partnership with Blizzard Entertainment. This move is part of a broader strategy to streamline operations and focus on more profitable ventures. Additionally, NetEase is cutting back on less successful games to concentrate resources on high-potential projects. This overhaul comes amidst a challenging period for the gaming industry in China, marked by regulatory scrutiny and economic pressures, aiming to position NetEase for better financial performance in the future.

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[ https://www.msn.com/en-us/money/technology/netease-s-billionaire-ceo-slashes-jobs-and-games-in-profit-push/ar-AA1zwXLC ]