In November alone, 48k+ tech employees have been let go — many from Twitter and Meta.
But whereas Meta is seeing ad revenue decline, TikTok is forecasting growth of ~150%, up from $4B last year to $10B this year.
Now, TikTok’s San Francisco team, whose Mountain View office once belonged to Meta, is looking to nearly double its headcount, per The Information.
- The team has grown from a few hundred to 1k+ since 2020, and TikTok is looking to add another 1k.
- Following layoffs at Twitter and Meta, TikTok recruiters have swooped in to snag job-seeking engineers.
Interestingly, TikTok’s US hiring efforts aren’t necessarily a business need, but a reputational one: The Chinese-owned company is being closely eyed for its privacy practices, and increasing its US presence could buy it time and trust from regulators.
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