TikTok-owner ByteDance planning to layoff thousands in coming months

Re:TikTok-owner ByteDance planning to layoff thousands in co... by stu2b50 on Thursday February 23, 2023 @01:56PM (#34914792)

Working on R&D for anticipated features. The number of employees that work purely on KTLO is going to be under half at least. The rest are justifying the large revenue multipliers tech stocks get - from their rather high growth rates, which are from expansion and moonshots that pan out.

Now that interest rates are high, the calculus for expansion projects is very different. You may very well be spending more money than you anticipated returning from your moonshots.

[ Parent | on HN ]

Re:TikTok-owner ByteDance planning to layoff thousands in co... by x86x87 on Thursday February 23, 2023 @02:49PM (#34915493)

the twitter approach! let go of all people that are not needed for KTLO

[ Parent | on HN ]

Re:TikTok-owner ByteDance planning to layoff thousands in co... by wpietri on Thursday February 23, 2023 @03:06PM (#34915763)

And then another 25%. And then fire anybody who is honest with the CEO.

[ Parent | on HN ]

Re:TikTok-owner ByteDance planning to layoff thousands in co... by x86x87 on Friday February 24, 2023 @11:01AM (#34925839)

And call it muskops! Musk now singlehandedly keeps twitter up!

[ Parent | on HN ]

Re:TikTok-owner ByteDance planning to layoff thousands in co... by seizethecheese on Thursday February 23, 2023 @02:50PM (#34915505)

This is not borne out by the data. The data shows most layoffs are in recruiting, HR, product, design, data science. Yes, it’s cutting new projects but it’s also just trimming fat.

[ Parent | on HN ]

Re:TikTok-owner ByteDance planning to layoff thousands in co... by hn_throwaway_99 on Thursday February 23, 2023 @03:21PM (#34915928)

I don't understand your comment. If you're cutting back on future features, not existing operations, you'd absolutely expect product and design to take a big hit, and then of course recruiting and HR because your employee counts are down and you're not hiring.

Data science tends to span both (future product dev and analysis of existing functionality), and data science can be particularly tricky to assign a value to, so not surprised there are also significant cuts there.

[ Parent | on HN ]

Re:TikTok-owner ByteDance planning to layoff thousands in co... by seizethecheese on Thursday February 23, 2023 @03:54PM (#34916319)

What I left out is that engineering is mostly not being cut.

[ Parent | on HN ]

Re:TikTok-owner ByteDance planning to layoff thousands in co... by jwagenet on Thursday February 23, 2023 @03:23PM (#34915959)

KLTO: keep the lights on, in case anyone else was wondering.

[ Parent | on HN ]

Re:TikTok-owner ByteDance planning to layoff thousands in co... by satvikpendem on Thursday February 23, 2023 @05:49PM (#34917840)

This was such an unnecessary term to initialize by the parent, when it had a pivotal meaning in the sentence. I was wondering what the hell. KLTO meant and thought it was the internal codename for TikTok or something.

[ Parent | on HN ]