(Yicai) Aug. 27 -- Minsheng Life Insurance has refuted online claims that the Chinese insurance firm has laid off employees based on the chairman’s personal zodiac preferences, saying the rumors are false, the 21st Century Business Herald reported.

Minsheng Life Insurance has kept evidence of the alleged rumors circulating online and will pursue legal action against any individuals or organizations that fabricate or disseminate such false information, a staff member at Minsheng Life Insurance said.

A social media user claiming to be an employee of Minsheng Life Insurance had alleged earlier that the company chairman had launched an internal process to terminate employees born in the Year of the Snake, because their zodiac sign was considered to be in conflict with his own. The post also claimed that long-serving employees without full-time bachelor's degrees from top-tier Chinese universities were also on the list for workforce optimization.

The zodiac system, known as the Chinese zodiac, is rooted in traditional Chinese culture. Each year is associated with one of 12 zodiac animals, with the cycle repeating every 12 years. Some combinations of zodiac signs are believed to be incompatible. Folk beliefs once held that people born under these signs were more likely to experience conflicts or difficulties in personal relationships and marriage.

Editor: Kim Taylor