What you need to know:
- ByteDance, the parent company of TikTok, announced plans to downsize its workforce in Indonesia after integrating a local e-commerce company, Tokopedia, with its operations.
- In January, ByteDance finalized its acquisition of a majority stake in Tokopedia from the GoTo group.
ByteDance, the parent company of TikTok, announced plans to downsize its workforce in Indonesia after integrating a local e-commerce company, Tokopedia, with its operations. The exact number of employees affected was not disclosed, although Bloomberg reported that approximately 450 jobs would be cut. In January, ByteDance finalized its acquisition of a majority stake in Tokopedia from the GoTo group.

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