ByteDance is cutting approximately 450 jobs, or 9% of its workforce, at its Indonesian e-commerce arm. This marks the first round of layoffs since ByteDance combined its TikTok Shop with Tokopedia, a local rival, in a $1.5 billion deal in December. The layoffs are part of a broader industry trend of rationalization, with other companies like Paytm also making significant cuts, including 3500 jobs. The merger with Tokopedia was facilitated by GoTo.
"ByteDance to Cut 450 Jobs in Indonesia After Tokopedia Deal" š More evidence of industry rationalization. Sounds like more cuts coming after this round too. $SE #tiktok https://t.co/6yiZAt65JA
Asia layoff tracker: Bytedance cuts 450 jobs, Paytm slashes 3500 https://t.co/dZhJ8jsvjs
ByteDance to lay off 450 employees in Indonesia: report https://t.co/Xp9Qlajdhc
Scoop: ByteDance plans to slash 450 jobs, or 9% workforce, at its Indonesian e-commerce operation, the first round of cuts since it took over Tokopedia in a $1.5B deal in December https://t.co/9MJhjJycy1 w/ @oliviapohtech
ByteDance is cutting about 9% of employees in its Indonesia business in the first round of cuts since combining its TikTok Shop with GoTo's Tokopedia. https://t.co/gPQISdVwDC
ByteDance is cutting about 450 jobs at its Indonesian e-commerce arm after combining its TikTok Shop with local rival Tokopedia https://t.co/OniJpBVK9c