Bloomberg: ByteDance dissolved Shanghai 101 Studio
The ByteDance gaming direction has problems. Bloomberg sources report that TikTok‘s parent company has decided to close one of its studios — 101 Studio. Over a hundred developers are out of work.
In total, more than 300 people worked in 101 Studio. It is assumed that the company transferred the remaining employees to the Nuverse publishing division. They will continue to engage in previous projects (although the development of a certain VR game will be given to Pico, the manufacturer of VR headsets).
The reasons, most likely, were the increased control of the Chinese authorities over the games and the economic downturn in the country.
ByteDance itself did not comment on what happened.
