ByteDance to Cut 450 Jobs in Indonesia After Tokopedia Deal
- Firm reducing costs after combining TikTok Shop and Tokopedia
- Its early foray into e-commerce has met with stiff competition
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ByteDance Ltd. is slashing about 450 jobs at its Indonesian e-commerce arm in the first round of cuts since combining its TikTok Shop with local rival Tokopedia in January.
The reductions, equal to about 9% of the arm’s employees, will commence as soon as this month, according to people familiar with the matter. The final number is under discussion and could fluctuate as conditions change, the people said.