TikTok’s Chinese Parent Company Fires Hundreds in Mass Layoff

(Reuters)—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.

According to SCMP, Douyin was the Chinese equivalent to TikTok, with 600 million users per day, and also the company’s real estate and gaming operations.

According to the report, only a small portion of ByteDance employees were affected by the job cuts.

Reuters did not reach ByteDance immediately for comment.

(Reporting by Jyoti Narayan in Bengaluru; Editing by Janane Venkatraman)