ByteDance Fires Hundreds, Slashes Games Arm in Major Retreat
- TikTok’s owner will slash hundreds of jobs in games creation
- It’s also seeking to sell existing gaming titles from Nuverse
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ByteDance Ltd. plans to cut hundreds of jobs in gaming and wind down its showpiece brand Nuverse in a major withdrawal from the sector, handing a victory to rival Tencent Holdings Ltd.
TikTok’s owner will fire several hundred people, unwind projects under development and weigh potential sales of existing titles, people familiar with the matter said. The Chinese company intends to announce the move on Monday, one person added, asking to remain anonymous discussing a private deal.