It has nothing to do with Tencent, the program has been there since over a couple years ago, it's something publicly mentioned multiple times by Ubisoft.
Instead of making huge layoffs, they have been slowly reducing their manpower in this less aggresive way company wide (not in specific studios): they renew less people with temporary/contractor/freelance jobs, replace less people who retires, moves away, etc. Plus also incentivize voluntary resignation / early retirements, when open job positions they prioritize people from other Ubisoft studio who wants to move there, they fire a slightly higher amount of people in their yearly apparisal meetings, very small layoffs in a few specific teams, etc.
As I remember they achieved the target they had regarding costs reduction for the last year or the other one before, but decided to expand it a bit more.
Update: Redlynx is also targeted. According to their website, the studio will fire about 60 employees.
The link doesn't say they will fire 60 people. It says they are proposing to reduce in maximum 60 people. It can end being 10 people who voluntarily leave, don't get renewed, etc.
And wouldn't be something that would happen in a single day. Ubisoft has been taking years for that initiative. So maybe that reduction they make it across a year or two, as has been in the other case of the other studios who have been doing it for a while.