TikTok continues to lay off employees to cut business costs

Short video platform TikTok has just joined the list of global technology companies announcing mass staff cuts from the beginning of 2024 for the reason of "cost reduction".

According to TikTok's report, about 60 employees, mostly from the sales and advertising departments, working at offices in New York, Los Angeles, Austin and outside the US, have officially received the decision to lay off.

TikTok, along with other global technology companies, has been continuously laying off employees in recent times.

TikTok said the layoffs were part of a previously planned restructuring to reduce costs. TikTok's parent company ByteDance had previously laid off hundreds of employees at Nuverse, the developer of Marvel Snap games.

TikTok has been making a series of layoffs since mid-2022 as part of a major restructuring, and also in early 2023, when employees in its Dublin recruiting department were made redundant.

While the layoffs only affect a small number of employees at ByteDance, which employs about 150,000 people worldwide , they reflect ongoing challenges in the global tech industry.

Not long ago, Google CEO Sundar Pichai also warned employees that all tech companies will continue to reallocate resources, leading to more layoffs.

Amazon also announced that it will cut about 5% of its workforce working in the 'Buy with Prime' division. Amazon's video streaming platform has also laid off more than 500 employees by early 2024 as it continues to cut costs and improve business efficiency.

Source: https://baoquocte.vn/tiktok-tiep-tuc-sa-thai-nhan-vien-de-cat-giam-chi-phi-kinh-doanh-258752.html