TikTok isn’t immune to the latest wave of layoffs within the tech space as they reportedly have laid off around 60 employees in an effort to reduce costs employees say, according to an report from NPR.
The report states that the layoffs were mostly in the company’s sales and advertising division, according to a company spokesperson who added that the layoffs were a part of the company’s routine re-organization.
The move impacts workers in Los Angeles, New York, Austin and abroad.
ByteDance, the China-based parent company of TikTok, is estimated to be the most valuable private company in the world at a reported $225 billion but the pains within the tech space that have led to layoffs at Google, Amazon, and other major tech companies were not avoidable.
Given the recent signals from Amazon’s Twitch that their popular live-streaming platform was “not profitable”, the content creation industry, as a whole, faces a mountainous task of navigating the challenging industry waters that do not seem to be calming anytime soon.