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TikTok parent, Bytedance’s gaming division Nuverse, has reportedly started layoffs. According to a Reuters report, the China-based company began mass layoffs on Monday. However, the exact number of people who were fired remains under wraps. Nonetheless, some individuals familiar with the matter told Reuters (via The Verge) that it is likely to impact hundreds of employees. The mass layoffs began on Monday, with the company’s restructuring efforts likely completed over the weekend. The report adds that employees were instructed to stop working on unreleased titles by December.
Bytedance’s gaming division, Nuverse, comes to a halt
“We regularly review our businesses and make adjustments to center on long-term strategic growth areas. Following a recent review, we’ve made the difficult decision to restructure our gaming business,” Nuverse told Reuters.
Bytedance set up Nuverse as a gaming division in 2019, focusing on developing mobile and web games, including the popular Marvel Snap. Interest in gaming grew as China became a gaming major after the success of publishers such as Tencent and NetEase. However, Bytedance’s gaming endeavor comes to a halt with reports suggesting that it has no plans to return to the global market.
The published games will continue to stay
TikTok-owner Bytedance plans to continue running certain games like “Crystal of Atlan” and “Earth: Revival” while seeking new companies to take over these games. This ensures that players can continue enjoying these games in the long run. It includes Marvel Snap as well. Bloomberg reported that Bytedance is considering selling Shanghai Moonton Technology. Notably, it had acquired it for $4 billion in 2021.
All of this hints that the company’s focus has shifted. It aims to concentrate more on apps like TikTok and online shopping, contemplating the sale of some gaming companies and retaining those with new and exciting ideas. Bytedance’s intentions regarding its video game operations remain unclear, with the possibility of a complete cessation or a regular company restructuring remaining open.
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