Media & Entertainment
Chinese online video services slash staff amid official pressure
Intense competition for users compounds losses
ByteDance has been reported to have cut thousands of staff, particularly within its education units.
HONG KONG -- Chinese online video services are slashing staff to cut costs amid bruising competition, an advertising slowdown and heightened pressure from regulators.
IQiyi and Kuaishou, which both reported wider operating losses in the third quarter, are leading the way.
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