Chinese Portal Tom Online Restructures To Focus on Services; Laying Off 100 Editors
Tom Online, the troubled Chinese online portal which went private recently, has restructured, and will shift the site’s focus from news and information to a more product and service oriented portal, according to Redline China. Its focus areas would now be sports, entertainment and auto channels. As a result, it will also lay off about 100 web editors, Interfax says. Couldn’t find any other English language info on this development, but will find out more.
SEE ALSO: Earnings: Tom Online Posts Decreased 4Q, Annual Profits
Tom started as an online and mobile gaming portal, and quickly ramped up to compete against the other big three in China: Sina, (NSDQ: SINA) Sohu (NSDQ: SOHU) and Netease. But had to pare back in face of regulatory challenges to the mobile side of the business, among other issues. It went private earlier this year, when parent Tom Group bought back its shares.
Posted In: Countries, Asia, China, tom online
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