ByteDance will lay off 450 employees in Indonesia following an agreement with Tokopedia

(Bloomberg) — ByteDance Ltd. is laying off about 450 workers at its Indonesian e-commerce unit in the first round of cuts since the TikTok store merged with local rival Tokopedia in January.

According to people familiar with the matter, the reductions, which affect approximately 9% of the arm’s employees, will begin this month. The final number is under debate and could change as conditions change, the people said.