Good Articles to Share

TikTok owner ByteDance confirms lay-off plan at Indonesian unit

Tan KW
Publish date: Fri, 14 Jun 2024, 06:13 PM
Tan KW
0 457,140

JAKARTA China's ByteDance will lay off staff at its Indonesian unit, following a deal where it bought a local e-commerce firm and combined it with its TikTok operation, a spokesperson said on Friday.

ByteDance, the owner of TikTok, did not say how many employees would be affected. Bloomberg had earlier reported that there would be 450 job cuts.

In January, ByteDance completed a deal to buy a majority stake in Tokopedia, an Indonesian e-commerce firm, from the GoTo group.

ByteDance spokesperson Nuraini Razak told Reuters in a statement the company would "make necessary adjustments" as a result of the combination of TikTok and Tokopedia.

"We identified areas to strengthen our organisation, and better align our teams with company goals," she said, adding that the company would "aim to support employees throughout this transition".

ByteDance had its own e-commerce operation in Indonesia via its TikTok app, but that was banned under an Indonesian rule that social media applications could not operate as an e-commerce platform.

Tokopedia is one of the leading e-commerce platforms in Indonesia, Southeast Asia's largest economy. 

  - Reuters


Be the first to like this. Showing 0 of 0 comments

Post a Comment