ByteDance to restructure Nuverse in retreat from gaming business
TikTok maker ByteDance plans to wind down its Nuverse gaming brand and retreat from mainstream video Game s, four people familiar with the matter said. ByteDance told Reuters it had decided to restructure its gaming business after a review, without giving further details. "We regularly review our Business es and make adjustments to centre on long-term strategic growth areas. Following a recent review, we've made the difficult decision to restructure our gaming Business ," the spokesperson said. The sources said ByteDance will tell employees on Monday to stop working on unreleased games by December, and that it will look for ways to divest from titles already launched. The decision is likely to impact hundreds of employees, some of whom learnt about the move at the weekend, the people said. The Chinese technology firm has no plan to return to the $185 billion global video games market, they added, declining to be identified as the information was not public. Cas...