ByteDance, the parent company of Tiktok, has closed the game development studio it bought three years ago. At the same time, more than 100 employees have lost their jobs.
Earlier, the company had bought game development company '101 Studio' in 2019. However, the company decided to close after the studio failed to work as planned.
However, the company has not yet given any official information in this regard. However, international media have reported that the company has closed the studio.
The studio had about 300 employees. Of those, 200 were transferred to ByteDance and the remaining 100 were fired.
The company bought the studio with the aim of ending Tencent's dominance in the game. However, the studio had to close down as it could not work as planned.
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