The Business Times
business-time-50

TikTok-owner ByteDance cuts hundreds of jobs in China: SCMP

google-preferred-sourceAdd BT as a preferred source
Published Tue, Jan 3, 2023 · 07:25 PM
    • The job cuts represent a small percentage of ByteDance’s workforce, the report said.
    • The job cuts represent a small percentage of ByteDance’s workforce, the report said. PHOTO: REUTERS

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    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 (Jan 3).

    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. REUTERS

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    ByteDanceTikTokLayoffsSpotlight

    Share with us your feedback on BT's products and services

    Feedback

    TRENDING NOW

    Air India has been one of the foreign carriers most affected by the outbreak of hostilities in the Middle East.

    Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss

    In this economy, the smartest bets might no longer be sitting an ocean away, but are waiting right here at home.

    ‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival

    Malaysia Madani, or Civil Malaysia, is Prime Minister Anwar Ibrahim's slogan encapsulating positive values (such as humanity and strong governance) that would shape policy direction. But the "corporate mafia" claims have now cast the spotlight on governance credibility.

    From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?

    Malaysia ranks 23rd globally on the Milken Institute’s global opportunity index.

    South-east Asian markets account for 8.8% of global capital inflows from 2021 to 2024: report

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More