TikTok is a popular and densely populated social media platform that houses users interested in making and sharing videos. The technology company is currently in the news for reducing its staff strength.
According to information from reliable sources, about 60 employees from the sales and advertising unit of the company will have to leave. A spokesperson had revealed that the job cut is happening as a result of a routine re-organization and mostly workers in Los Angeles, New York, and Austin will be affected.
TikTok stands as one of the widely used applications in the United States, boasting approximately 7,000 employees in the country. Its parent company, the Chinese tech giant ByteDance, employs over 150,000 individuals globally. Also, it has numerous users across different countries including Nigeria.
Having a parent company in ByteDance, a big tech company, has given TikTok a great edge over the years but recently, the video platform has experienced a slight business downturn, and this is the reason for the decision to lay off certain people. With an estimated value of $225 billion, ByteDance is considered to be the world’s most valuable privately-owned company.
Although TikTok attributes the job cuts to a re-organization, the app might have been encountering challenges as it navigates the integration of TikTok Shop, which was officially introduced in the U.S. in September. Since the launch, TikTok users have expressed dissatisfaction, noting an influx of videos on their “For You” page featuring creators who want to earn affiliate commissions by endorsing products from TikTok Shop.
The latest tech layoff is coming from Tiktok as other tech companies such as Google, YouTube, Amazon, and Meta have rolled out their share of layoffs in the industry. Some of these companies had the biggest round of layoffs while some had the least. However, the information from the companies about the recent layoffs either had to be a restructuring program or a downturn in the economy affecting their business.
While tech layoffs have always been a thing, there has been an increase since the previous year and moved right into this year. Nobody knows what the remaining part of the year holds for the tech employees but hopefully, people will have to keep their jobs until they no longer have to.
