ByteDance shuts game development studio, lays off over 100

Hong Kong: China-based ByteDance has shut down a game development studio, laying off more than 100 employees, media reports said.

ByteDance, TikTok’s parent company, shut down the ‘101 Studio’ in Shanghai it had acquired three years ago.

“TikTok owner ByteDance is disbanding one of its main game studios due to its disappointing performance,” Nikkei Asia reported.