TikTok-owner ByteDance cuts hundreds of jobs in China – SCMP – Reuters

Jan 3 (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.
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.
Our Standards: The Thomson Reuters Trust Principles.
The Japanese unit of failed cryptocurrency exchange FTX said on Friday it would return its customer assets from February.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs.
The industry leader for online information for tax, accounting and finance professionals.
Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile.
Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts.
Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.
All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.
© 2022 Reuters. All rights reserved

source

Leave a Comment

Your email address will not be published. Required fields are marked *