TikTok is the latest major social media platform that is laying off employees.
According to Engadget, some of the company's employees have already been let go, while others were told to prepare for a meeting with the HR department.
The ByteDance-owned company is currently restructuring its workforce around the world.
TikTok is Laying Off Employees
According to Wired, the European employees of TikTok were told that their jobs were at risk and that they would hold a meeting with the HR department in the next few weeks.
Meanwhile, the platform employees in the United Kingdom were told to expect to see colleagues lose their jobs and that every department will be affected by the mass layoff.
In the United States, some employees were told that they were laid off shortly after they came in for work on July 18.
One of those employees in the United States that were let go was David Ortiz. Ortiz was among the first executives that ByteDance hired outside of China.
In a LinkedIn post, Ortiz revealed that he was removed from his role. A TikTok spokesperson did not deny that the company had mass layoffs.
But they did not confirm that TikTok was going through a global restructuring and did not provide Wired with a detailed statement on why the company was suddenly cutting jobs around the world.
One of TikTok's staff talked to Wired and revealed that the company is only cutting employees and teams that managers believe have not been contributing enough.
They claimed that only 100 employees are being laid off, which is a small percentage since there are around 10,000 employees across the United States and Europe.
With that said, TikTok is just one of the many companies in the tech, gaming, AV/EV, and social media sector that is downsizing its workforce.
Mass Lay-Offs Across Different Sectors
Some companies in the social media and tech industry that had to let people go because of the economic downtown are Netflix, Unity, and Twitter.
Tesla reportedly laid off 200 Autopilot employees, and it had decided to close an office in California. According to Bloomberg, Rivian plans to lay off 5% of its workforce in 2022.
Meta also told its employees that it would lay off its low performers and move them to exit the company if they could not get back on track.
On July 13, TechCrunch reported that Microsoft had cut jobs due to economic uncertainty. The company said it is currently realigning business groups and roles after the close of its fiscal year on June 30.
The mass layoff affected less than 1% of Microsoft's 180,000-employee workforce and followed no clear pattern concerning geography or product division, touching on departments that include customer and partner solution and consulting.
They came after the company slowed hiring in the Windows, Team, and Office groups while assuring that recruitment had not been affected by industry headwinds.
In Q3, Microsoft reported strong earnings, with a 26% year-over-year increase in cloud revenue and overall revenue of $49.4 billion.
Related Article : Unity is Another Tech Firm to Lay off Hundreds of Workers in Mass Exodus
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Written by Sophie Webster
