ByteDance, the Chinese-owned company of short video sharing platform TikTok, has laid off hundreds of workers. As part of cost cutting, the layoffs have been made in multiple departments since the end of 2022. Reuters reported this news with reference to the South China Morning Post.
According to reports, the Chinese version of TikTok, Duowin, has laid off most of the staff. The platform currently has around 60 crore daily users. The company’s gaming and real estate operations have also been laid off.
However, this number is very small compared to the total workforce of ByteDance. The company was not immediately available for comment.