TikTok parent Bytedance gaming division faces layoffs; 3,000 Nuverse employees in limbo: Report

Bytedance, the parent company of TikTok, has initiated extensive layoffs within its gaming division, leading to uncertainty among Nuverse employees, as reported by Reuters.

The gaming arm known as Nuverse is significantly downsizing its operations after two years of modest performance. A spokesperson from ByteDance informed Reuters, "We routinely assess our ventures and make adaptations to focus on long-term strategic growth areas. Following a recent evaluation, we've made the challenging decision to restructure our gaming business."

Nuverse maintained a workforce of around 3,000 in 2021, a figure that has remained consistent over the past few years.

ByteDance acquired the Shanghai-based gaming studio Moonton Technology in a $4 billion deal. The studio gained recognition for the mobile multiplayer online battle arena (MOBA) game Mobile Legends: Bang Bang, launched in July 2016. There have been reports suggesting ByteDance is considering options to offload Moonton.

According to sources, ByteDance will discontinue ongoing gaming projects and is likely to sell existing gaming titles within Nuverse. The standout game from Nuverse 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."

Meanwhile, TikTok still remains banned in India. In June 2020, India banned TikTok, citing national security concerns following a military conflict with China. This move paved the way for Instagram to grab a sizeable chunk of the market while some TikTok imitations swiftly emerged as significant contenders in the newly available market.

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