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TikTok cuts 60 jobs in sales and advertising
https://www.whatjobs.com/news/business-news/tiktok-cuts-60-jobs-in-sales-and-advertising
By Nithya Bose in Business News, posted January 26, 2024
TikTok has laid off nearly 60 employees at the start of this year, joining the list of tech companies reducing their workforce.
The layoffs are part of a routine reorganization impacting the sales and advertising departments.
Staffers across Los Angeles, New York, and Austin, Texas, as well as other global offices, are affected.
These job cuts come amid a broader trend of downsizing in the tech industry.
Companies like Amazon, Alphabet, Unity, Discord, and Trend Micro announced staff reductions in January.
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This pattern continues from the previous year when many tech firms trimmed their workforces and cut costs after a period of significant growth.
Tencent’s Riot Games announced a reduction of 11 percent of its workforce, affecting approximately 530 employees.
Riot Games CEO Dylan Jadeja said these cuts were essential to “create focus and move us toward a more sustainable future.”
As of 2023, TikTok had around 7,000 employees in the US.
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In the same year it's parent company, ByteDance, had a global workforce exceeding 150,000.
In November, ByteDance made significant job cuts in its gaming division, Nuverse.
It indicated a strategic shift away from gaming, a sector where it had been competing with Chinese giants Tencent and NetEase.
A ByteDance spokesperson said at that time: “We regularly review our businesses and make adjustments to center on long-term strategic growth areas.
“Following a recent review, we’ve made the difficult decision to restructure our gaming business.”
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