The news has drastically affected the firm’s employees which many feel is a fresh sign related to the China exiting the very heavily controlled industry. This particular report was confirmed by insiders familiar with the whole situation.
The firm which is based in Beijing was seen pouring in millions in terms of video game operations. Now, it is busy shifting many employees to its Wushuang Studio in Shanghai after many members of its workforce had been laid off recently.
In June, the firm shut down its 101 studio as confirmed by a number of people familiar with the incident but who chose to remain anonymous to avoid further controversy on the subject.
The parent firm of TikTok would however be maintaining its gaming unit and a number of operations in the city as there are already several projects that have been launched as confirmed by Chinese local media outlets.
At the same time, we’re seeing the company eliminate more jobs at its Jiangnan Studio as well as its Hangzhou Studio that’s related to game development. For now, the company has failed to respond to any queries on the matter.
H/T: SCMP
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by Dr. Hura Anwar via Digital Information World
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