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English|China Computerworld Shuts Down Due to Business Operation Struggles

English|China Computerworld Shuts Down Due to Business Operation Struggles
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Image Source: Visual China
BEIJING, April 27 (TMTPOST) — The 42-year-old Chinese magazine China Computerworld announced on Wednesday that the company will suspend operation on April 27 and that all employees would wait for further notice.
China Computerworld said in the notice that the company has been suffered heavy losses since the onset of the Covid-19 pandemic. In early 2022, the company had no cash inflows and since then has been unable to pay its employees and other operation costs. The company even had to borrow money from several sources so as to pay employees’ social insurance and housing fund. Many subsidiary companies connected to China Computerworld have been denied access to their bank accounts. The company’s legal person is also trapped in somewhere else, which did not help the company deal with the situation.
Employees who were unable to get their salary have filed for labor arbitration. There are around ten cases waiting for be arbitrated. Some employees chose to turn to Labor Supervision Group for complaints. The supervisor who got to study the case stated that there have been many companies in the recent two years that suffered from similar problems. Even if the supervision issues orders that mandate companies should pay up the rest of the money, companies still do not have money in the status quo.
China Computerworld stated that it is no longer able to maintain business operation.
Founded in 1980, China Computerworld is a top ten newspaper in the country. It is a newspaper that specializes in the computer and information technology sectors. The newspaper is co-published by the Digital Technology Intelligence Center of the Ministry of Industry and Information Technology and IDG (International Data Group).
China Computerworld focuses on both the technical aspect and industry insights. The newspaper has been committed to bridging the information gap between businesses and users and connect technologies with the industry.
【English|China Computerworld Shuts Down Due to Business Operation Struggles】The newspaper officially stopped publishing paper-form magazine in June 2021.

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