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

Wednesday, January 4, 2023
TikTok-owner ByteDance cuts hundreds of jobs in China - SCMP © Reuters. FILE PHOTO: TikTok logos are seen in this illustration taken February 15, 2022. Picture taken February 15, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

(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.

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22-02-2024 05:17:20 (UTC+7)

EUR/USD

1.0821

+0.0004 (+0.04%)

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↑ Buy

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Buy (3)

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EUR/USD

1.0821

+0.0004 (+0.04%)

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↑ Buy

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GBP/USD

1.2636

+0.0003 (+0.02%)

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USD/JPY

150.30

+0.02 (+0.01%)

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↑ Buy

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Buy (9)

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AUD/USD

0.6550

0.0001 (0.00%)

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Sell

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Buy (2)

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USD/CAD

1.3503

-0.0002 (-0.01%)

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EUR/JPY

162.63

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0.9516

0.0000 (0.00%)

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 EUR/USD1.0821↑ Buy
 GBP/USD1.2636↑ Buy
 USD/JPY150.30↑ Buy
 AUD/USD0.6550Sell
 USD/CAD1.3503↑ Sell
 EUR/JPY162.63↑ Buy
 EUR/CHF0.9516↑ Sell
 Gold2,036.80↑ Buy
 Silver22.927↑ Buy
 Copper3.8805↑ Buy
 Crude Oil WTI78.06↑ Buy
 Brent Oil83.14↑ Buy
 Natural Gas1.782↑ Buy
 US Coffee C187.80↑ Sell
 Euro Stoxx 504,773.05Sell
 S&P 5004,981.80↑ Buy
 DAX17,118.12Buy
 FTSE 1007,662.51↑ Buy
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 IBEX 3510,107.20Neutral
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 Bayer28.93↑ Buy
 Allianz250.70Neutral
 Adidas181.44↑ Sell
 Lufthansa7.428↑ Buy
 Siemens AG169.42↑ Sell
 Deutsche Bank AG11.994↑ Sell
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