Looks like the tech industry is going to get rough. Reportedly, TikTok is downsizing and employees are being laid off left and right. So, what should you know about it?
For your information, the Chinese company is trying to cut costs by reducing its manpower. This news is based on the reports by employees at TikTok. Reportedly, 60 employees at TikTok were laid off. Most of them are based in the sales and advertising divisions.
According to a spokesperson at the company, this layoff involves employees in Los Angeles, New York, Austin and so forth. As a result, TikTok has scheduled a meeting about this subject. This situation is not exclusive to TikTok alone. Plus, other tech giants have laid off their staff for the same reason.
Ma ″Pony″ Huateng, Chairman and Chief Executive Officer of Tencent Holdings Ltd
Major tech companies such as Google and Amazon, have slashed thousands of employees so far this year, as the the entire sector shifts resources to the race to develop new generative AI tools. Which, has seen a drastic rise in popularity recently. But it does not end there, Tencent’s Riot Games has laid off 11% of their employees globally.
We have yet to confirm how this will affect TikTok employees in Malaysia. Hopefully, such a matter does not happen here. We at TechNave hope everyone at ByteDance Malaysia will be able to pull through.
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