TikTok cuts about 60 jobs as January layoffs continue across tech industry

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TikTok Music has launched on Wednesday in Australia, Singapore and Mexico to a small group of users. TikTok has cut about 60 jobs, CNBC confirmed, the latest tech company to downsize at the start of 2024. In a letter to employees that was published as a blog post, Riot Games CEO Dylan Jadeja said the job cuts were necessary to "create focus and move us toward a more sustainable future." The layoffs indicated that ByteDance was scaling back its gaming efforts, an area where its been competing with Chinese rivals Tencent and NetEase. "We regularly review our businesses and make adjustments to center on long-term strategic growth areas," a spokesperson told CNBC at the time.

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