ByteDance, Parent Company of TikTok, initiates extensive layoffs in gaming division

ByteDance, the parent company of TikTok, has initiated widespread layoffs within its gaming division, raising uncertainty for numerous Nuverse employees, as reported by the media. TechCrunch revealed that the gaming department, Nuverse, is undergoing significant downsizing after two years of lackluster performance.

A spokesperson from ByteDance informed TechCrunch, "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 maintained a workforce of approximately 3,000 people in 2021 and has maintained this employee count in recent years.

ByteDance had acquired the Shanghai-based gaming studio Moonton Technology in a notable $4 billion deal. Moonton Technology is renowned for its mobile multiplayer online battle arena (MOBA) game, "Mobile Legends: Bang Bang," released in July 2016. There have been reports suggesting that ByteDance is exploring options to sell Moonton.

As part of the restructuring, ByteDance is expected to wind down ongoing gaming projects and potentially sell existing gaming titles within Nuverse. Notably, "Marvel Snap," an online card game developed by the US studio Second Dinner, stands out as Nuverse's flagship game. Other titles under Nuverse include "One Piece: The Voyage" and "Crystal of Atland."

With inputs from IANS