ByteDance Begins , Mass Gaming Layoffs.
In 2021, the TikTok parent company announced its new gaming unit, Nuverse.
It was expected to rival competitors like Tencent and NetEase.
It was expected to rival competitors like Tencent and NetEase.
But now, much to employees' surprise, Nuverse is scaling back operations with layoffs, TechCrunch reports.
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We regularly review our businesses and make adjustments to center on long-term strategic growth areas.
Following a recent review, we’ve made the difficult decision to restructure our gaming business, ByteDance spokesperson, via TechCrunch.
The layoffs started on Nov.
27.
It is not clear how many people will be let go, and many employees have yet to receive word about their future with the company.
Nuverse has had approximately 3,000 employees since its inception.
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ByteDance is also reportedly looking to unload Moonton, a studio it previously acquired for $4 billion.
ByteDance met with a firm based in Saudi Arabia earlier this month to discuss a potential deal
