ByteDance has not confirmed how many employees will be affected by the restructuring. | Photo by Roslan Rahman / AFP via Getty Images
TikTok parent company ByteDance is planning to wind down its Nuverse gaming brand and walk away from the mainstream video game industry, according to a new report by Reuters. Four unnamed sources told the publication on Monday that the decision will likely impact hundreds of employees, some of whom were only informed about the company’s restructuring efforts over the weekend.
“We regularly review our businesses and make adjustments to centre on long-term strategic growth areas. Following a recent review, we’ve made the difficult decision to restructure our gaming business,” a ByteDance spokesperson told Reuters. Nuverse, a subsidiary set up by ByteDance in 2019, was focused on standalone mobile and web games, including publishing the…
