Economic news
Tik Tok cuts jobs in China
2023.01.03 13:26
Tik Tok cuts jobs in China
Budrigannews.com – The South China Morning Post reported on Tuesday that ByteDance, the Chinese parent company of the video app TikTok, will lay off hundreds of employees across multiple departments at the end of 2022 as part of a cost-cutting measure.
According to SCMP, which cited sources, the job cuts have been implemented at Douyin, the Chinese equivalent of TikTok with approximately 600 million daily users, as well as the company’s gaming and real estate operations.
According to the report, only a small portion of ByteDance’s workforce was affected by the layoffs.
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