Renren denies layoff rumor

Renren Inc, a leading Chinese operator of social networking services, Tuesday denied rumors of layoffs at the firm.

Zhao Tanbing, a public relations employee at Renren, told the Global Times that the company has noticed the rumors, "but all those remarks are pure hearsay. And there is no staff reduction in our company."

Rumor mills on Sina Weibo started churning Monday, saying that Renren was planning a layoff, with the gaming section on the list of affected departments.

The New York-listed company has witnessed its net loss widen to $15.4 million in the third quarter of the year, from a net loss of $1.2 million a year earlier.