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TikTok Announces Layoffs as Tech Industry Continues to Cut Jobs
TikTok is laying off 60 workers in its advertising and sales unit. Impacted workers can apply for other open positions within TikTok. Other tech companies, including Twitch and Discord, have also announced job cuts.
TikTok, the popular social media platform known for its short-form videos, is the latest tech company to announce layoffs in the new year. The company is cutting 60 jobs in its advertising and sales unit, according to a spokesperson. While no specific reason was given for the layoffs, impacted workers will have the opportunity to apply for other open positions within TikTok, which currently has over 120 similar job listings.
Owned by Beijing-based ByteDance, TikTok boasts more than 150 million users in the U.S. and has become a favorite among Gen Z and younger users. In addition to its video content, the platform recently launched an e-commerce arm and marketplace, allowing merchants to sell products directly on the platform.
These layoffs come in the wake of job cuts at other major tech companies. Social media platforms like Discord and Twitch, which is owned by Amazon, have also made significant reductions in their workforce. Twitch recently announced the elimination of over 500 jobs as part of cost-saving measures, while Discord laid off 170 employees, representing 17% of its staff, in order to increase agility within the company.
Amazon, the e-commerce giant, has also been affected by layoffs in various sectors of its business. Its audiobook service, Audible, as well as its Prime Video and MGM Studios unit, have all experienced job cuts. Similarly, Google has made the decision to reduce its workforce in an effort to save on costs.
Overall, the tech industry has seen a significant number of job losses this year, with over 10,000 positions being eliminated, according to layoffs.fyi, a tech job tracking site.
TikTok is laying off 60 workers in its advertising and sales unit.
Impacted workers can apply for other open positions within TikTok.
Other tech companies, including Twitch and Discord, have also announced job cuts.
Source: AP NEWS