Chinese online video services slash staff as regulatory pressure bites

Chinese online video services slash staff as regulatory pressure bites

A person holds a phone with Baidu Inc's video streaming service iQiyi in Jinan, Shandong province, China, in this May 25, 2016 photo illustration. Picture taken May 25, 2016. REUTERS/Stringer

Chinese online video services are slashing staff to cut costs amid bruising competition, an advertising slowdown, and heightened pressure from regulators.