Wednesday, September 27, 2023

TikTok owner ByteDance is cutting thousands of jobs

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TikTok‘s China-based owner ByteDance laid off hundreds of employees across multiple departments, the media reported.

The layoffs affected employees Douyinthe Chinese version of TikTok with 600 million daily active users, as well as its gaming and real estate business, the South reports China Morning Post, citing sources.

The layoffs at ByteDance were first reported by the Chinese media outlet Jemian.

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The new year is now turning critical for ByteDance as it faces political uncertainties amid national security concerns over TikTok in the US.

Other Chinese internet giants including Alibaba Group Holding and Tencent Holdingscut thousands of jobs by 2022.


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