With every passing month, the layoff is intensifying around the globe. Major tech companies in most countries are firing employees to cut costs. The new one to join the list is China-based ByteDance, which is the owner of TikTok. 

It is one of the biggest tech companies in China that is reportedly planning to lay off thousands of its workers in the coming months. This came right after ByteDance closed its Indian offices and terminated all of its Indian staff.

While Indians were not majorly affected by ByteDance’s tussle due to the Indian government, in China, the layoffs will have a major impact due to an economic slowdown. 

Not just layoff, there will be other reorganisations operations taking place at ByteDance too. According to a report by Firstpost, the company will transform its bimonthly staff goal-setting. 

These adjustments of the objective-and-key-results (OKR) framework, will allow more time “to reflect on truly meaningful progress” and “be more flexible” so that each business unit can “adjust its cadence,” said ByteDance co-founder and CEO Liang Rubo, according to a report by the South China Morning Post.

This means that some projects will shut down and ByteDance will start laying off a sizeable portion of its workforce of 1,00,000 employees.

Because of security worries over TikTok, ByteDance has been facing increasing political pressure in the United States and other key Western markets. In India too, ByteDance was trying to lobby the Indian government for years and get the ban on their apps revoked, but so far no avail.