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HomeBusinessThe company that owns TikTok, ByteDance, prepares for hundreds of layoffs as...

The company that owns TikTok, ByteDance, prepares for hundreds of layoffs as it slashes gaming unit Nuverse

 

Pixabay
Sayyid96

The Chinese digital behemoth ByteDance, which created TikTok, is stepping back from the video game industry, which will lead to the loss of hundreds of jobs.

To concentrate on its main operations, the Beijing-based corporation will close down Nuverse, the division that houses its video game studios, next month.

“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,” a spokesperson from the company said.

There will be more player-active games like Earth: Revival and Crystal of Atlan. In December, titles that have not yet been released will be shut down. The establishment of ByteDance’s gaming business, Nuverse, in 2019 was largely perceived as a significant step into a once-booming industry.

The corporation formally established itself as one of six business segments in 2021 as part of a larger reorganization.

Nuverse increased their production capability by acquiring outside studios like C4games. However, Nuverse’s performance has been uneven; none of its titles have achieved widespread success.

The decision will have an impact on hundreds of workers.

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