TikTok owner ByteDance is reportedly ‘drastically scaling back’ its gaming business.

Date:

Share post:

[ad_1]

TikTok’s parent company, ByteDance, is reportedly laying off hundreds of employees and “drastically scaling back” its video game business.

As reported by the South China Morning Post (and seen by GamesIndustry ), ByteDance has closed most of its Wushuang studio in Shanghai and laid off staff or moved them to other parts of the company. Jobs were also cut at the Jiangnan game development studio in Hangzhou.

Sources familiar with the cuts said ByteDance’s current gaming projects – which include a few mobile games – will continue to be supported in its Shanghai office, but no new developments will begin. Perhaps the most popular game to come from ByteDance is Marvel Snap, a new collectible card game developed by former Hearthstone director Ben Broad.

Loading

ByteDance has invested heavily in its gaming division with a major push to recruit over 900 new employees in 2020. Business has grown significantly over the past few years – most recently investing in Elden Ring developer FromSoftware.

Similar to Netflix’s push into gaming, ByteDance tried to add games to its social media platform TikTok in May, but it’s unclear whether that effort will continue amid reports of a slowdown.

Ryan Dinsdale is an IGN freelancer. He talks about The Witcher all day.

[ad_2]

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Related articles

Naina Soon Lands Major Deal with Paperstone Productions for Music Videos, Web Series & TV Ad

Paperstone Productions Signs Naina Soon Singh for Major 3-Project Deal In a significant move for the entertainment industry, Paperstone...

Mark Sellar: The Australian Entrepreneur Bridging Fitness, Cricket, and Culture in India

An International Vision Meets Indian Passion For most entrepreneurs, building a successful business in their home country is a...

From London to Delhi: The Visionary Powering India’s Fastest-Growing Finance Platform

In the vast landscape of Indian startups, stories of ambition are common. Stories of belonging, however, are rare....

Sugar Is Destroying Your Skin Faster Than You Think

Sugar, though often considered a harmless indulgence, is emerging as a significant culprit behind premature skin aging and...