TikTok is reportedly laying off workers to cut costs

TikTok is one of the latest companies to be hit by layoffs sweeping across tech industry over the past year. A spokesperson from the short-form video platform told NPR that the company laid off around 60 employees, mostly from its sales and advertising division across its various offices in the US — Los Angeles, New York, Austin — and abroad. They told the media organization that the layoffs were part of a routine reorganization, but NPR said the company decided to let them go to cut costs. 

ByteDance, TikTok’s parent company, reportedly cut hundreds of jobs at Marvel Snap developer Nuverse last year. According to previous reports, TikTok itself did a round of layoffs in mid-2022 due to global restructuring efforts and then again in early 2023 to let its recruitment staff in Dublin go. This round affects just a tiny fraction of ByteDance’s global workforce that’s around 150,000 strong, but as NPR notes, it’s a “sign of pain in the tech industry.”

Google CEO Sundar Pichai recently told employees to expect further downsizing this year, as the company allocates its resources. He said that Google is “removing layers to simplify execution and drive velocity in some areas.” Amazon also recently told Engadget that it’s letting go of about five percent of staff in its Buy with Prime division. Twitch, a video-streaming platform owned by Amazon, was hit by a bigger round of layoffs affecting over 500 people earlier this year in order to reduce costs and run its business more efficiently. 

This article originally appeared on Engadget at https://www.engadget.com/tiktok-is-reportedly-laying-off-workers-to-cut-costs-073546895.html?src=rss 

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