Chinese edtech company New Oriental fired 60,000 workers in 2021 after revenue fell 80%, the biggest layoffs disclosed since China began its tech crackdown (Sarah Ya-Ru Zheng/Bloomberg)

Sarah Ya-Ru Zheng / Bloomberg:
Chinese edtech company New Oriental fired 60,000 workers in 2021 after revenue fell 80%, the biggest layoffs disclosed since China began its tech crackdown  —  – New Oriental saw an 80% slump in sales, chairman says  — It fell victim to far-ranging curbs on after-school education