TikTok’s parent firm ByteDance shuts game development studio, lays off over 100
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More than 100 people were laid off as a result of China-based ByteDance closing a game production studio, according to media sources. The '101 Studio' that ByteDance had acquired three years prior has now been shut down by the company. Nikkei Asia said that "ByteDance, the owner of TikTok, is dissolving one of its key game studios due to its underwhelming results."