Becky Sun has submitted her resume to 80 companies since being dismissed from a midsized Beijing internet group at the start of the year. The former manager has done about 20 interviews but the job offers she landed required a pay cut of 50 per cent or more and a demotion.
“The openings I’m looking at now are no longer management level,” said Sun, who is in her mid-30s, adding that the job market was “the worst I’ve ever seen it”.
China’s Big Tech groups have suffered under a series of punishing regulations and fines as President Xi Jinping works to rein in their size and scope. The resulting tech sell-off — which at its deepest wiped out more than $2tn in market value — deeply wounded investors in Chinese technology companies.
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