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| Tiktok's hopes of return to India broken |
The central government has recently permanently banned 59 Chinese apps, including Tiktok. In such a situation, the last hope of return of the company has been broken. Following the decision of the Central Government, the company has started to remove its employees in India.
Expectations of Chinese short video making app Tiktok's return to India have been completely broken. As such, the company has started retrenching its employees in India. The company initially fired around 100 employees. Let us know that Tiktok is facing a ban in India for the last about 7 months. The company hoped that it would return to India soon. But the central government has recently permanently banned 59 Chinese apps, including Tiktok. In such a situation, the last hope of return of the company has been broken. Following the decision of the Central Government, the company has started to remove its employees in India.
Tiktok has no other option but to lay off
On Wednesday, Tiktok sent a mail to all its employees stating that the company was going to reduce its workforce in India. As it is known that there is no possibility of solution on the ban from the Government of India. Tiktok says that we have tried our best with the government to find a solution according to local regulations. But despite this we have not been able to reach any solution in the last 7 months. The government has not told how long Tiktok can be relaunched in India. A spokesman for Tiktok said that it is regrettable that in India for about 7 months we are fully supporting our 2000 employees. But now we have no other option but to lay off.
No decrease in earnings of Tiktok
Tiktok has faced restrictions in many other countries, including not only India, but the US. Despite this, Tiktok continues to do business globally. Bytedance company has generated revenue of about $ 37 billion in the year 2020. This includes the company's $ 7 billion profit.
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