TikTok Parent Company, ByteDance Laid Off Hundreds of Employees
JAKARTA - The parent company of TikTok, ByteDance has surprisingly laid off hundreds of employees or laid off various departments by the end of 2022.
According to two people familiar with the matter, the layoffs are affecting employees at Douyin, China's version of TikTok which has 600 million daily active users, its gaming business and real estate.
The layoffs also reportedly represent a small portion of ByteDance's workforce, and the source also mentioned, this is a move by ByteDance in an effort to streamline its operations.
SCMP stated quoted Wednesday, January 4, ByteDance's enterprise collaboration tool Feishu, also known as Lark, was among the hardest-hit departments, affecting around 10 percent of employees.
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ByteDance is a social media and technology company that will be one of the layoffs in 2022.
Previously, Twitter also took similar steps to increase the company's profits to pay off its debts, which sacrificed 3.700 workers, aka half of its workers worldwide, including Indonesia.
Likewise with Meta, which cut 11 thousand employees in the midst of a weak advertising market.
Finally, Amazon has also laid off a staggering 10.000 employees from Amazon's device organization, including Alexa's voice assistant, retail division, and human resources.