TikTok-owner ByteDance cuts hundreds of jobs in China

Tue Jan 03 2023
Nikki Bailey (1324 articles)
TikTok-owner ByteDance cuts hundreds of jobs in China

ByteDance, the Chinese parent company of video app TikTok, has laid off hundreds of employees across multiple departments at the end of 2022 as part of a cost-cutting measure, the South China Morning Post reported on Tuesday.

The job cuts have been implemented at Douyin, the Chinese equivalent of TikTok with about 600 million daily users, as well as the company’s gaming and real estate operations, SCMP reported citing sources.
The job cuts represent a small percentage of ByteDance’s workforce, the report added.

ByteDance did not immediately respond to Reuters’ request for comment.

Nikki Bailey

Nikki Bailey

Nikki Bailey reports on US Stocks. She covers also economy and related aspects. She has been tracking US Stock markets for several years now. She is based in New York