It is reported that ByteDance’s gaming department is facing large-scale layoffs and will cut off all non-online projects

ByteDance will cancel all unreleased game projects on November 26, and plans to officially announce the news tomorrow

The media claimed that news about ByteDance’s layoffs and project axing broke out in the Maimai community today, and will bring “more detailed reports” tomorrow. According to reports, Byte’s “optimization adjustments” this time include the following:

Today, the leaders of each ongoing research project were notified that the project was disbanded.
I will issue a formal notice on Monday and complete all the termination contract signing and dissolution. "It is said that I only have one day to complete it."
In addition to the compensation of N 1, the year-end bonus, equity, etc. will also be fully converted, and "no less will be given" in terms of compensation.
Based on previous reports from this site, Reuters, Snow Leopard Finance and others have successively claimed that ByteDance is seeking to sell its gaming unit Mutong Technology for a structure of no less than US$5 billion.

News shows that

ByteDance is seeking to sell Mutong Technology at a price of no less than US$5 billion

(note on this site: currently about 35.85 billion yuan), and has hired Goldman Sachs for this purpose As a Financial Advisor (FA), help find and contact potential buyers. Two years ago, ByteDance acquired Shanghai-based Mutong Technology Studio for US$4 billion. Mutong Technology has developed popular mobile games "Magic Rush: heroes", "Dragon Battle", "Endless Showdown", etc.

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