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China's TikTok Owner Is Said to Downsize 2023 Hiring
Tang Shihua
DATE:  Jul 21 2022
/ SOURCE:  Yicai
China's TikTok Owner Is Said to Downsize 2023 Hiring China's TikTok Owner Is Said to Downsize 2023 Hiring

(Yicai Global) July 21 -- ByteDance has reportedly scaled back its recruitment plans for next year as the Chinese owner of TikTok taps the breaks on expansion.

Chief Executive Liang Rubo has updated the firm's objectives and key results document to slow the expansion of its corporate scale and to enhance its efficiency, news outlet Jiemian reported today, citing a person familiar with the matter.

The short-video platform operator had already earlier emphasized the need to adjust its scale, the source added.

The Beijing-based firm has been growing quickly in recent years. In 2020, its headcount jumped to 100,000 from 60,000 a year earlier. One of the big contributors was the education business unit, Dali, which added 10,000 employees in 2020.

ByteDance's education and gaming segments have not taken off as well as expected so the units have gone through several rounds of layoffs since last year.

Editor: Emmi Laine, Xiao Yi

 

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Keywords:   Recruiting Plan Adjustment,Short Video Platform,TikTok,ByteDance