TikTok is undergoing significant cost-saving measures as part of an efficiency push, particularly targeting its underperforming e-commerce division in the US. Following substantial investment in e-commerce, the company is now laying off staff, implementing stricter return-to-office policies, and enforcing travel budget caps. CEO Shou Chew has initiated a review of staff roles to streamline operations. The layoffs and changes come during a challenging period for TikTok, as it grapples with uncertainties related to potential US government action against the platform and faces disappointing sales figures in its TikTok Shop.
TikTok is taking new steps to squeeze out a return, including layoffs and stricter rules, as its US e-commerce business faces significant challenges.
In pursuit of efficiency, TikTok is undergoing layoffs and implementing cost-cutting measures to adapt to challenges in its US e-commerce operations.
TikTok's CEO Shou Chew emphasized the need to review company teams and streamline operations, reflecting a broader trend among tech giants toward cost-saving measures.
The company's decision to lay off employees and enforce budget caps signals a significant shift in its strategy amidst ongoing uncertainties with regard to US operations.
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