Douyin (left) and Weishi Photo: IC
Chinese technology company Tencent denied market rumors that the company will lay off employees in a claimed business merger of its short video platform Weishi and Tencent Video amid intensified competition from Kuaishou and Douyin, the Chinese version of TikTok.
The company told the Global Times on Sunday that in its new round of business integration, products from the two units will be integrated into Tencent’s online video products department, and they will continue to operate independently.
The adjustment does not involve any employee lay-offs, the company sa…
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