ByteDance shuts down some tutoring businesses and layoffs hundreds of people after China’s crackdown: report | Technology News

New Delhi: Two sources familiar with the matter said that TikTok owner Bytedance told employees on Thursday that it plans to lay off employees and educate business personnel and close part of the counseling business after China implements full regulation of the industry.

China last month promulgated regulations banning for-profit tutoring based on courses, aimed at alleviating the financial pressure on families that contribute to the low birth rate. The move triggered a sharp drop in the share price of Chinese private education companies.

ByteDance will lay off some teachers, sales and advertising staff in the education department, and will close its curriculum-focused preschool and K12 tutoring business (covering students from kindergarten to 12th grade) in China to comply with regulations, according to one of them say. Source and third source.

ByteDance did not immediately comment.

Dali, the education department of ByteDance, was established in October last year and operates a number of tutoring apps for preschoolers and K12 students, including one-to-one English online course provider Gogokid and school course tutoring app Qingbei.

The department has more than 10,000 employees, and its expansion has been one of Bytedance’s top priorities in the past year. Please also read: WhatsApp user reminder!Hackers can use this vulnerability to access the chat and check how to protect the message

The scale of the layoffs could not be immediately known. Two sources said that the company has transferred some of its education staff to other departments of the company. Please also read: How to use the gold loan through the SBI YONO app – the detailed process is explained here