SINGAPORE— A technology platform launched by China’s state-run Sinochem Group last year to help create value ahead of a now-shelved share offering is slashing jobs after poor reception from the market, sources with direct knowledge of the matter said.
Sinochem Energy Technology Co Ltd, an internet-based subsidiary, was created to promote the “integration of traditional petroleum and chemical industry with emerging technologies such as cloud computing, big data, block chains, artificial intelligence, and the internet of things,” Sinochem says on its website.
