Editorial Summary

Shanda (Nasdaq: SNDA) will lay off a large portion of employees at its Beijing branch and relocate the remaining employees to Shanghai, numerous Chinese media sources report. According to Sina, Netease and Sohu, Shanda will lay off 250 of its 300 employees in Beijing. CCID is reporting that Shanda will lay off more than 100 employees at the Beijing office. Shanda Beijing branch general manager Qian Zhonghua has also resigned, say the reports. Shanda's Beijing branch operates Shanda's entertainment portal www.poptang.com and Shanda's music related businesses.