The virtual reality division of TikTok owner ByteDance has announced staff cuts and a sweeping restructuring plan because of a market downturn, according to three people familiar with the matter.
Henry Zhou, president of ByteDance’s VR arm Pico, said in an internal meeting on Tuesday that the division would retain its hardware and core technology teams while scaling back its marketing, studio, video and platform departments, according to two individuals who attended the gathering.
Zhou admitted the VR industry was still in “a very early stage” and Pico’s initial expectations for the market were overly optimistic, according to the two people.
您已阅读19%（648字），剩余81%（2833字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。