TikTok parent ByteDance announces mass job cuts in gaming division

TikTok’s parent company’s plans for video games became prominent after its gaming division became one of the firm’s six core business units in 2021. ByteDance’s gaming unit competed against major Chinese gaming companies including Tencent, NetEase and MiHoYo. After two years, the short-lived gaming department called Nuverse is significantly scaling back its operations as it’s becoming “expensive” for the company.

In a statement to TechCrunch, a ByteDance spokesperson said: “We regularly review our businesses and make adjustments to centre on long-term strategic growth areas. Following a recent review, we’ve made the difficult decision to restructure our gaming business.”

How the latest layoffs will affect ByteDance