Business World

China’s largest private education company sacked 60,000 people after Beijing’s crackdown in 2021

China’s largest private education provider laid off 60,000 employees last year as it grappled with fallout from Beijing’s sweeping overhaul of the industry. Yu Minhong, the billionaire founder of New Oriental Education confirmed the massive shakeup in a post on his WeChat account over the weekend, adding the company encountered “too many changes in 2021.” […]