ByteDance Begins , Mass Gaming Layoffs.br In 2021, the TikTok parent company br announced its new gaming unit, Nuverse.br It was expected to rival br competitors like Tencent and NetEase.br It was expected to rival br competitors like Tencent and NetEase.br But now, much to employees' surprise, br Nuverse is scaling back operations br with layoffs, TechCrunch reports. .br We regularly review our businesses and make adjustments to center on long-term strategic growth areas. Following a recent review, we’ve made the difficult decision to restructure our gaming business, ByteDance spokesperson, via TechCrunch.br The layoffs started on Nov. 27.br It is not clear how many people will be let go, br and many employees have yet to receive br word about their future with the company.br Nuverse has had approximately br 3,000 employees since its inception. .br ByteDance is also reportedly looking br to unload Moonton, a studio it br previously acquired for $4 billion.