TikTok to lay off large percentage of workforce amid growing tech industry turmoil

TikTok is preparing to lay off a substantial portion of its workforce, specifically targeting the global user operations, content, and marketing departments.

Current employees, who were informed of the impending cuts, disclosed to The Information that the layoffs will impact a large percentage of the roughly 1,000 employees in these divisions.

This move follows a previous round of layoffs in January when TikTok cut about 60 workers from its sales and advertising teams.

The company has not yet provided an official statement regarding the current layoffs or the exact number of employees affected.

This news comes as the tech industry faces widespread turmoil.

Dinga Bakaba, head of Microsoft-owned Arkane Lyon, publicly criticized Microsoft’s recent game studio layoffs, expressing concerns about the company’s strategy. The layoffs, which included the closure of several game studios such as Tango Gameworks, have shocked employees and fans alike, particularly given the recent success of Tango’s game, Hi-Fi Rush.

Meanwhile, Tesla is also implementing significant layoffs, with two senior executives and hundreds of employees affected. The cuts include the entire Supercharger team and senior director Rebecca Tinucci.

CEO Elon Musk hinted at more cuts to come, potentially impacting up to 20% of Tesla’s workforce. Despite aggressive cost-cutting measures, Tesla’s stock price remains buoyant amidst plummeting profit margins and a controversial earnings report.

These layoffs across major tech companies underscore a broader trend of instability and strategic reevaluation within the industry, affecting employees and raising questions about the future direction of these tech giants.