Chinese app TikTok cuts 60 jobs, but affected employees have a reason to cheer

Chinese short video app TikTok is laying off 60 employees, joining several tech firms that have resorted to job cuts in the new year. A representative of the content sharing platform did not reveal the reason behind the decision to lay off employees in the advertising and sales unit, AP reported.

However, TikTok said that the affected employees can apply to other open positions at the company. The video sharing app is owned by China’s ByteDance and has more than 150 million users in the United States.

ALSO READ: Flipkart, Amazon, Paytm, Google cut thousands of jobs; is AI the real villain?

It is extremely popular among Gen Z and younger users. Last September TikTok had launched an e-commerce unit and marketplace to allow merchants to sell their products on its platform.

According to job cuts tracker layoffs.fyi, more than 10,000 employees across several tech companies have lost their jobs in the layoffs in the beginning of 2024.

ALSO READ: Google warns employees of more job cuts in coming months

TikTok said that the affected employees can apply to other open positions at the company(AP file)

Online marketplace EBay said it will trim 1,000 jobs or nine per cent of its full time workforce, and reduce the work for its outside contractors. The company stated that its staffing and expenses outpaced the growth, Bloomberg reported.

EBay said it needs to be “more nimble” in the face of a “challenging” economic environment. Meanwhile, Amazon-owned online audiobook and podcast service Audible laid off about 5% of its workforce, marking the third round of job cuts at the e-commerce giant’s businesses.

Audible, bought by Amazon in 2008 for $300 million is a top distributor and producer of audiobooks, meditation programmes and podcasts.
The e-commerce giant, which started layoffs in 2022, has till now fired 27,000 employees so far.

Twitch said earlier this month it was cutting more than 500 jobs in a bid to save on costs. Discord laid off 17% of its staff, or 170 employees, a move aimed to bring more agility to its workforce.

Source website: www.hindustantimes.com

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