Highlights

  • TikTok, has initiated significant layoffs in its gaming division: Report
  • Nuverse, is undergoing substantial downsizing after a couple of years of moderate performance

Latest news

My remarks may have not pleased PM Modi: Sadhvi Pragya Thakur on being denied BJP ticket

My remarks may have not pleased PM Modi: Sadhvi Pragya Thakur on being denied BJP ticket

With 'Viksit Bharat 2047' on agenda, PM Modi meets Council of Ministers: reports

With 'Viksit Bharat 2047' on agenda, PM Modi meets Council of Ministers: reports

BJP's Jai Ram Thakur predicts fall of Congress govt in Himachal soon 

BJP's Jai Ram Thakur predicts fall of Congress govt in Himachal soon 

Vaughan wants England cricket team to adopt Man City manager Pep Guardiola's approach

Vaughan wants England cricket team to adopt Man City manager Pep Guardiola's approach

Newly 'elected' Prime Minister Shehbaz Sharif rakes up Kashmir in maiden speech

Newly 'elected' Prime Minister Shehbaz Sharif rakes up Kashmir in maiden speech

Calcutta High Court Judge Abhijit Gangopadhyay to resign, hints at joining politics

Calcutta High Court Judge Abhijit Gangopadhyay to resign, hints at joining politics

India nearly eliminates extreme poverty, says report

India nearly eliminates extreme poverty, says report

'Delhi Chalo' protest: Farmers to resume march on March 6, declare railway blockade on March 10

'Delhi Chalo' protest: Farmers to resume march on March 6, declare railway blockade on March 10

Bytedance's gaming division, Nuverse faces layoffs, 3,000 employees in limbo

In 2021, Nuverse had a workforce of approximately 3,000, a number that has remained steady in recent years

Bytedance's gaming division, Nuverse faces layoffs, 3,000 employees in limbo

ByteDance, the parent company behind TikTok, has initiated significant layoffs in its gaming division, causing uncertainty among Nuverse employees, as reported by Reuters.

The gaming branch, Nuverse, is undergoing substantial downsizing after a couple of years of moderate performance. A ByteDance spokesperson informed Reuters that they regularly evaluate their ventures and are making adjustments to focus on long-term strategic growth. As a result of this recent evaluation, they've made the tough decision to restructure their gaming business.

In 2021, Nuverse had a workforce of approximately 3,000, a number that has remained steady in recent years.

Also read/watch - Union budget 2024: Experts push for higher tobacco taxes says report

ByteDance had acquired Moonton Technology, a Shanghai-based gaming studio, in a $4 billion deal. Moonton gained acclaim for its mobile multiplayer online battle arena (MOBA) game Mobile Legends: Bang Bang, launched in July 2016. Reports suggest that ByteDance is exploring options to sell Moonton.

Sources indicate that ByteDance will halt ongoing gaming projects and is considering selling existing gaming titles within Nuverse. Among Nuverse's standout games is the online card game "Marvel Snap," developed by the US-based studio Second Dinner. Other titles include "One Piece: The Voyage" and "Crystal of Atland."

Despite these developments, TikTok remains banned in India. The ban, initiated in June 2020 due to national security concerns following a conflict with China, allowed Instagram to capture a substantial market share. Several TikTok imitations also emerged as significant players in the newly available market.


Up Next

Bytedance's gaming division, Nuverse faces layoffs, 3,000 employees in limbo

Bytedance's gaming division, Nuverse faces layoffs, 3,000 employees in limbo

Info Edge apps restored on Google Play amidst government assurance

Info Edge apps restored on Google Play amidst government assurance

Anant Ambani-Radhika Merchant pre-wedding celebration cost revealed

Anant Ambani-Radhika Merchant pre-wedding celebration cost revealed

Sensex, Nifty hit another record high during special trading session

Sensex, Nifty hit another record high during special trading session

Google removes Naukri and 99acres apps from play store over billing policy violations

Google removes Naukri and 99acres apps from play store over billing policy violations

Paytm Payments Bank hit with Rs 5.49 cr fine for money laundering violations

Paytm Payments Bank hit with Rs 5.49 cr fine for money laundering violations

More videos

Invest Smart 2024: Financial products every woman should invest in

Invest Smart 2024: Financial products every woman should invest in

Elon Musk sues OpenAI and CEO Sam Altman for contract breach

Elon Musk sues OpenAI and CEO Sam Altman for contract breach

February GST collection at Rs 1.68 lakh crore, up 12.5%

February GST collection at Rs 1.68 lakh crore, up 12.5%

97.62% of Rs 2,000 currency notes returned; says RBI

97.62% of Rs 2,000 currency notes returned; says RBI

Rihanna's whopping paycheck for Ambani pre-wedding event revealed

Rihanna's whopping paycheck for Ambani pre-wedding event revealed

Stock exchanges BSE and NSE to conduct special live trading session on Saturday; here's why

Stock exchanges BSE and NSE to conduct special live trading session on Saturday; here's why

From tax-saving deadline to FASTag KYC: Here are 5 critical dates you can't miss in March 2024

From tax-saving deadline to FASTag KYC: Here are 5 critical dates you can't miss in March 2024

GDP for Q3 FY24 forecast to be 6.8%: SBI Ecowrap

GDP for Q3 FY24 forecast to be 6.8%: SBI Ecowrap

Markets spike, hit new record highs after better than expected GDP numbers

Markets spike, hit new record highs after better than expected GDP numbers

Gold, Silver Price Today March 01, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

Gold, Silver Price Today March 01, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.