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TikTok Cuts 60 Jobs Amid Industry-Wide Layoffs

The social media giant's layoffs, primarily in sales and advertising, come as tech companies grapple with cost-cutting measures and slowing growth.

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Overview

  • TikTok has laid off approximately 60 employees, primarily from its sales and advertising division, across its offices in the US and abroad.
  • The layoffs are part of a wider trend in the tech industry, with companies like Amazon, Google, and Discord also making significant cuts.
  • TikTok's user growth has been decelerating, dropping from an average of 12% year-over-year per quarter in 2022 to 3% in 2023.
  • The layoffs come as TikTok is trying to integrate TikTok Shop, a feature that has received complaints from users who feel their For You Page is overrun with promotional content.
  • TikTok, despite the layoffs and controversies, remains the number one app on the iOS App Store’s entertainment charts, and number five among all free apps.