Consumer Discretionary Jun 18, 2022 01:58 PM (GMT+8)
On the 18th, the science and Innovation Board Daily reported that the reporter learned from a number of independent sources that the ByteDance education business has been greatly adjusted. It is estimated that about 3000 people have been optimized. At present, the total number of people in this business is less than 5000. The optimized business line covers intelligent learning at home and abroad, teenagers, Xuelang, Kaiyan, guagualong, education middle office, etc., leaving only intelligent learning for the public, vigorously intelligent and adult business. Optimized employees will receive "n+2" compensation. In November, 2021, byte education business has undergone a major personnel adjustment. This optimization is also regarded as ByteDance's initiative to divest low profit businesses and pave the way for IPO in Hong Kong. As of press time, ByteDance has not given a formal response to the above information.
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