Tencent targets 10% job cuts to make room for younger executives

The move comes as Tencent climbs out of one of its deepest troughs

Tencent Holdings Ltd. is planning to clear out about 10 percent of its existing managers to make room for younger executives as China’s largest gaming and social media company confronts a slowdown in growth, according to people familiar with the matter.

President Martin Lau told an internal meeting late last year that its lowest-performing general managers will need to leave the company or be demoted, mainly because not much staff-pruning has occurred in the past, the people said, asking not to be identified talking about a private matter. Tencent may then promote star performers, one of the people said. Jane Yip,