Consumer Discretionary Aug 07, 2021 05:06 PM (GMT+8)
ByteDance Education is laying off thousands of employees from the education sector. This wave of layoffs came unexpectedly, as previously it was said internally that the company's management is very confident and patient in the education sector and will continue to invest in the future. Earlier this year, the CEO said that education would be one of the company's three main focus areas in the future. Now, with the new regulatory requirements, things have changed. Furthermore, ByteDance has also announced the discontinuation of several online education programs and apps.
This briefing is contributed by and first appeared on CIMK.