Byte Dance-owned TikTok fired as many as 40 employees last week, according to a report by Economic Times. The decision was communicated to the affected employees during a call. " TikTok India's employees were told that February 28 would be their last day and were given feelers to look out for other opportunities for some time as it was conveyed that restarting India operations were not going happen because of the government's stance on Chinese apps," the report quoted a company source as saying.
Following TikTok's exit from the Indian market after the country banned the platform along with 300 other Chinese apps citing national security threats, most employees had been working for the Dubai and Brazil markets.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
The decision has its way coming for a long time now. The report quoted another source who informed that the employees were asked to look for new jobs as TikTok could completely shut down its operation in India.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
While the employees were told that they would be given six to seven months' severance pay, most affected by the decision are likely to get 90 days' compensation in advance. TikTok had more than 200 million users in India.
The recent development comes after the transfer of senior executive Sameer Singh as the company's head of global business solutions in North America. Sameer Singh was previously leading the business solutions in Southeast Asia after he was roped in by the platform in 2019.
The future looks uncertain for TikTok in several international markets amidst the growing call for a ban on the app in Northern America and various other business segments. The US House Foreign Affairs Committee plans to hold a vote on a bill aimed at blocking the use of China's popular social media app TikTok in the country.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
